Navigator Holdings secures $220m refinancing

Navigator Holdings secures $220m refinancing

Navigator Gas and Navigator Holdings have entered into a secured facility agreement with ABN-AMRO, DVB Bank, Skandinaviska Enskilda Banken and Nordea Bank.

Under the agreement, the banks will offer up to $220m to refinance two existing loan facilities that are due to mature in April 2017 and provide delivery financing of up to 70% of the fair market value of the company’s final newbuilding, Navigator Jorf.

The agreement consists of a term loan facility, revolving credit facility and newbuilding term loan facility related to the partial financing of the delivery of the Navigator Jorf. It bears interest at an annual rate of U.S. LIBOR plus a margin of 2.6% and will be secured by ten of the company’s vessels.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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