Awilco LNG Goes for Vessel Refinancing Similar To Leaseback

By
Mfame Team
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1082

  • Awilco has agreed to refinance its two LNG carriers WilForce and WilPride to an Asian leasing company.
  • The refinancing is structured as a sale/leaseback similar to the current financing of the vessels.

According to an article published in LNG Industry, Awilco LNG ASA has announced that a term sheet for the refinancing of the company’s two LNG carriers.

LNG vessel leashed

Refinancing has been finalized for Awilco’s 2013-built 156 000 m3 TFDE LNG carriers, WilForce and WilPride. It has also been agreed and signed with a major leasing company based in Asia.

Refinancing similar to leaseback

The refinancing is structured as a sale/leaseback similar to the current financing of the vessels and enables a full take out of the sale/leaseback facilities maturing 31st December 2019 at favourable terms.

The facility is expected to close in 4Q19 subject to final credit approval, documentation and customary closing conditions.

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Source: LNGIndustry