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Excelerate Energy seals 10-year sale and leaseback for FSRU
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.