Navigator Gas secures $147.6 million loan for refinancing, repurchasing vessels, and general corporate needs.
From GlobeNewswire: 2024-08-12 08:00:00
Navigator Holdings Ltd. announced a new secured term loan and revolving credit facility worth $147.6 million with Credit Agricole, ING Bank, and SEB AB. The loan will refinance existing debt, repurchase Navigator Aurora, and support general corporate needs. The Facility Agreement matures in 2030, with interest on amounts outstanding based on SOFR plus 190 basis points. The loan is secured by five vessels and guaranteed by Navigator Gas and the Company’s obligations. CEO Mads Peter Zacho highlighted the facility’s cost savings and environmental focus on reducing emissions across the fleet, demonstrating financial strength and operational flexibility.
Navigator Gas, the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, secured a $147.6 million loan with Credit Agricole, ING Bank, and SEB AB. The loan will refinance debt, repurchase Navigator Aurora, and fund general corporate needs. The Facility Agreement matures in 2030, with interest based on SOFR plus 190 basis points. The loan is secured by five vessels and guaranteed by Navigator Gas and the Company. CEO Mads Peter Zacho emphasized the facility’s focus on cost savings and environmental sustainability by reducing emissions across the fleet.
Navigator Holdings Ltd. secured a $147.6 million loan with Credit Agricole, ING Bank, and SEB AB to refinance debt, repurchase Navigator Aurora, and support general corporate needs. The Facility Agreement, maturing in 2030, has interest based on SOFR plus 190 basis points. The loan is secured by five vessels and guaranteed by Navigator Gas and the Company. CEO Mads Peter Zacho highlighted the financial benefits and sustainability focus of the facility, emphasizing environmental standards and efficiency improvements across the fleet.
Read more at GlobeNewswire: Navigator Gas Announces Entry Into $147.6 Million Secured