Höegh LNG Agrees Financing for Ninth FSRU

MoneyIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Norway-based Höegh LNG has received commitment letters for a USD 177 million debt financing for its ninth floating storage and regasification unit (FSRU).

The unit, which is under construction at Hyundai Heavy Industries (HHI) shipyard in South Korea, is scheduled to be delivered in the fourth quarter of 2018.

The loan comprises a 12-year tranche of USD 132 million guaranteed by South Korean export credit agency K-SURE and a five-year non-amortising commercial bank tranche of USD 45 million.

A combination of existing and new lenders are participating in the facility, according to Höegh LNG.

The facility is available to fund 65% of the delivered cost of the FSRU based on a 16-year blended amortization profile. Höegh LNG intends to fix the interest rate and based on the current swap rate, the fixed interest rate is expected to be around 5%.

“Höegh LNG continues to diversify its funding sources while obtaining competitive debt financing that is supportive of the company’s commercial strategy,” Sveinung J.S. Støhle, President & CEO of Höegh LNG, said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jan 2020 >>
MTWTFSS
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

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >