LNG shipowner GasLog has launched a debt financing of $1.05bn with a number of international banks to refinance six legacy facilities covering eight ships built in the past six years.
As well as refinancing $960m of bank debt, the deal comes with a $100m revolving credit facility.
“Terms of the legacy facility re-financing are in line with GasLog’s existing facilities, demonstrating the banks’ strong appetite to lend to leading companies in the LNG industry,” the Monaco based firm said in a release.
Simon Crowe, chief financial officer, commented, that the additional liquidity would come in handy as the company looks “to pursue a number of interesting growth opportunities in the LNG carrier and FSRU sectors.”
Citibank, Credit Suisse and Nordea Bank are acting as mandated lead arrangers and joint bookrunners.