Höegh LNG Secures $80M Loan
Norway-based floating liquefied natural gas (LNG) giant Höegh LNG said it has secured $80 million to refinance an existing bond loan maturing in June 2020.
"The facility is provided by three of the company’s relationship banks and will be used to refinance part of the HLNG02 bond loan which matures in June 2020 and general corporate purposes," the Norwegian shipowner said in a press note.
The facility has a tenor of 2 years and an estimated interest rate of about 5.2% for drawn amounts based on the current floating interest rates. The facility is subject to final documentation, which is expected to be completed during first quarter of 2020.
Sveinung J. S. Støhle, CEO & President of Höegh LNG said: “This revolving credit facility proves the importance of Höegh LNG’s strong and long-lasting relationship with our core banks. The facility provides Höegh LNG with flexible financing, in line with the company’s financial strategy, while at the same time reducing the financial costs.”
Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs).