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Dynagas LNG completes acquisition of Arctic Aurora

LNG Industry,

Dynagas LNG Partners has completed the acquisition of the ownership interests in the entity that owns and operates the ice class LNG carrier Arctic Aurora from Dynagas Holding, for a purchase price of US$ 235 million.

On 19 June 2014, Dynagas Partners entered into a new US$ 340 million senior secured revolving credit facility which was used to refinance US$ 214.1 million outstanding under Dynagas Partners' existing senior secured revolving credit facility and the remaining borrowings of US$ 125.9 million were used to finance a portion of the purchase price of the Arctic Aurora.

The balance of the purchase price was financed with the proceeds of Dynagas Partners' recently completed equity offering, which closed on 18 June 2014.

Adapted from press release by Katie Woodward

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