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Excelerate Energy seals 10-year sale and leaseback for FSRU

Photo of Grant Rowles Grant RowlesJanuary 12, 2017
32 Less than a minute

Excelerate Energy has completed a long-term sale and leaseback with CMB Financial Leasing for the FSRU Experience.

The agreement is for 10 years after which Excelerate will re-purchase the FSRU from CMB.

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

The 2014-built FSRU is under long-term charter to Petrobras in Brazil providing regasification services.

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Photo of Grant Rowles Grant RowlesJanuary 12, 2017
32 Less than a minute
Photo of Grant Rowles

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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