Navigator Gas Secures Loan to Partially Finance Final Newbuilding

Image Courtesy: Navigator Gas

Owner and operator of handysize liquefied gas carriers Navigator Gas has, together with Navigator Holdings Ltd, entered into a new financing agreement for an aggregate amount of up to USD 220 million.

Provided by ABN-AMRO, DVB Bank, Skandinaviska Enskilda Banken (SEB) and Nordea Bank, the financing would be used to refinance two existing loan facilities that are due to mature in April 2017 and to provide delivery financing of up to a maximum of 70% of the fair market value of the company’s final newbuilding, Navigator Jorf.

The agreement consists of a term loan, revolving credit and newbuilding term loan related to the partial financing of the delivery of the Navigator Jorf.

Navigator Gas said that the financing deal matures in seven years, bears interest at an annual rate of U.S. LIBOR plus a margin of 2.6% and will be secured by ten of the company’s vessels.

Navigator’s fleet consists of 38 semi- or fully-refrigerated liquefied gas carriers, including five newbuildings scheduled for delivery by the end of July 2017.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 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

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >