$195 Million Bond Refinancing of LNG Tanker

MarineLink.com
Wednesday, July 03, 2013

Milbank represented Meridian Spirit ApS, as issuer, in a $195 million bond refinancing for its liquefied natural gas (LNG) tanker vessel, the Meridian Spirit. Meridian Spirit ApS is a special purpose company owned by Teekay LNG Partners LP and Marubeni Corporation. Moody’s rated the 17-year private placement Baa1 based on the Meridian Spirit’s charter with Total’s Norwegian subsidiary, which is ongoing up to 2030. Proceeds from the issuance will refinance a portion of the bridge debt that the two sponsors utilized when they acquired the six-vessel Maersk LNG fleet in February 2012. The Meridian Spirit was built by Korea’s Samsung Heavy Industries and has a storage capacity of 165,500 cubic meters of LNG.

Dan Bartfeld, partner in Milbank’s Project Finance Group, co-led the Milbank team with Structured Finance partner Jay Grushkin. Also working on the Meridian Spirit refinancing for Milbank were associates Mikhel Shechter and Sean O’Neill.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Norway will be Lithuania's 2016 Top Gas Supplier

Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports,

Crowley Christens 2nd LNG-ready Product Tanker

Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade   Crowley Maritime Corp. has christened the second of

Canada Says Lifting Some Sanctions Against Iran

The Canadian government said on Friday it was lifting some sanctions against Iran, including the broad ban on financial services, imports and exports, making Canadian

Finance

Norway will be Lithuania's 2016 Top Gas Supplier

Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports,

DP World: Chairman also Appointed CEO

Dubai's DP World has appointed chairman Sultan Ahmed bin Sulayem as permanent chief executive with immediate effect, the port operator said on Monday, two weeks

DP World 2015 Box Volumes Rise 2.4 pct

Dubai's DP World, one of the world's biggest port operators, on Monday said its 2015 annual gross container volumes rose 2.4 percent on a like-for-like basis and

LNG

Norway will be Lithuania's 2016 Top Gas Supplier

Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports,

Total Signs Deal to Supply LNG to China's ENN

Total SA has signed an agreement to supply liquefied natural gas to ENN Energy in China, according to a news release on the French energy company's website.   The deal is for 0.

Crowley Christens 2nd LNG-ready Product Tanker

Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade   Crowley Maritime Corp. has christened the second of

News

N.Korean Navy Incursion Draws Warning Shots

A North Korean patrol boat crossed into South Korean waters early on Monday and retreated after the South Korean navy fired warning shots, a South Korean military official said.

Three Dead on Pemex Platform, Fire Under Control

Three workers were killed and at least seven injured when a fire broke out on a Pemex oil processing platform in the Gulf of Mexico, but the latest in a string of incidents is now under control,

Norway will be Lithuania's 2016 Top Gas Supplier

Lithuania will import more gas from Norway than from former sole supplier Russia in 2016 after developing infrastructure to support liquefied natural gas (LNG) imports,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1017 sec (10 req/sec)