Höegh LNG Holdings has secured commitment letters for a revolving credit facility of up to $80m, using the company’s common units in Höegh LNG Partners as security.
The facility, which has a tenor of two years, is provided by three of the company’s relationship banks and will be used to refinance part of the HLNG02 bond loan which matures in June 2020 and general corporate purposes.
The facility is expected to be completed during first quarter of 2020.
“This revolving credit facility proves the importance of Höegh LNG’s strong and long-lasting relationship with our core banks. The facility provides Höegh LNG with flexible financing, in line with the company’s financial strategy, while at the same time reducing the financial costs,” said Sveinung Støhle, CEO and president of Höegh LNG.
