Handysize liquefied gas carriers operator Navigator Holding has entered into a secured facility agreement with a host of banks including Nordea Bank, BNP Paribas, DVB Bank America, ING Bank, and Skandinaviska Enskilda Banken.
Under the agreement, the lenders has offered up to $160.8m loan facility agreement to Navigator Holdings to refinance an existing loan facility that is due to mature in February 2018 and for general corporate and working capital purposes.
The facility agreement consists of a term loan facility of $100m and a revolving credit facility of $60.8m.
The agreement matures in six years and will be secured by eight of the company’s vessels.
Navigator’s fleet consists of 38 liquefied gas carriers, including two newbuildings scheduled for delivery by the end of October 2017.