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Höegh LNG upsizes FSRU debt facility and seals new LNG carrier charter

Höegh LNG Holdings has announced that it has received a commitment letter from five of the company’s relationship banks, upsizing and extending the $61m debt facility for FSRU Independence.

The facility has been increased to $106m, and the maturity date has extended from May 2020 to December 2024. The additional funds will be available for general corporate use.

The company also revealed that it has entered into an interim LNG carrier time charter with an Asian-based trading house, for a period of around 7 months commandant mid-2020. Either Höegh Gannet or Höegh Gallant will be deployed for the
contract.

Sveinung J. S. Støhle, CEO & president of Höegh LNG, commented: “I am very pleased to see that despite the Corona crisis and turbulent markets, the company has successfully increased the facility amount for FSRU Independence, and at the same time reduced the funding margin, which demonstrates Höegh LNG’s market position and the company’s strong and long-lasting relationship with our core banks. The new LNGC charter confirms Höegh LNG’s ability to secure firm interim business for its FSRU assets”.

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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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