Excelerate Energy Completes FSRU Sale and Leaseback

Image Courtesy: Excelerate Energy

US-based Excelerate Energy has completed the long-term sale and leaseback of the floating storage regasification unit (FSRU) Experience with a wholly owned subsidiary of CMB Financial Leasing Co.

Upon completion of the 10-year agreement Excelerate said that it will re-purchase the FSRU from CMB.

“The transaction demonstrates the market’s confidence in FSRUs as financeable and dependable assets and positions Excelerate well for future financings as part of its growth strategy,” the company added.

The agreement enables the swap of short-term debt for long-term debt at the ultimate shareholder level, and leaves Excelerate with a strong balance sheet and a debt-to-book equity ratio of roughly 1:1.

Commissioned in 2014, Experience is currently under long-term charter to Petrobras, providing regasification services to Brazil.

The company operates a fleet of nine FSRUs built between 2002 and 2014.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2017 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

10th annual Border Security Conference

The 2017 conference will possibly be the most relevant and topical event to date as we enter our 10th successive year. With the rise of cross…

read more >

4th Ship Recycling Congress

The two day conference will consist of a number of informative presentations followed by interactive Q&A sessions, panel discussions…

read more >

Maritime Reconnaissance and Surveillance Technology 2017

After last year’s huge success the SMi Group is proud to announce the 2nd Maritime Reconnaissance and Surveillance Technology. The event…

read more >

Euromaritime 2017

The Euromaritime event will take place in Europe for three days. This is one of the major and influential trade events dealing with marine…

read more >