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Awilco confirms its LNG carrier refinancing has been approved

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LNG Industry,


With reference to its previous stock exchange announcement in early August 2019, Awilco LNG ASA has announced that the term sheet for the refinancing of its two 2013-built 156 000 m3 TFDE LNG carriers, WilForce and WilPride, has been credit approved.

The sale/leaseback facility is provided by CCB Financial Leasing Co. Ltd. (CCBFL), a wholly owned subsidiary of China Construction Bank (CCB), and is expected to enable a full take out of the company’s current sale/leaseback facilities at favourable terms. The facility bears a 14-year straight line amortisation profile, a tenor of 10 years and carries a floating interest rate structure.

The facility is expected to close in 4Q19 subject to final documentation and customary closing conditions.

Jon Skule Storheill, CEO of Awilco LNG ASA, stated: “We are pleased to mark the start of our longterm relationship with CCBFL, a leading leasing house in China and part of one of the largest banks in the world, and believe the terms are attractive and supportive of the company’s commercial strategy.”

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/21102019/awilco-confirms-its-lng-carrier-refinancing-has-been-approved/

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LNG carrier news