Provider of floating LNG (FLNG) infrastructure services Höegh LNG has received commitments letters from seven international banks for a US$ 400 million senior secured credit facility for the financing of floating storage and regasification units (FSRUs) numbers three and four. The facility has a five-year post delivery tenor and a fifteen years repayment profile. It is without charter employment requirements and available also for pre-delivery financing. Commitments are subject final documentation, which is in progress.
The banks participating in the facility are ABN Amro, Citibank, Crédit Agricole, Danske Bank, DNB, NORDEA, and Swedbank.
Höegh LNG's President and Chief Executive Officer, Sveinung J. S. Støhle, said: "We are pleased to have received commitments from our banks for this attractive financing for the last two of the four FSRUs currently under construction at Hyundai Heavy Industries. With this facility the vessels are fully funded. The structure of this financing underlines the strength of and Höegh leading position in the fast growing FSRU market.”
Adapted from press release by Ted Monroe
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/27012014/h%C3%B6egh_lng_receives_international_financing_for_two_fsrus/