Singapore: Singapore LNG Corporation (SLNG) has announced that it has secured a S$1.11bn term loan facility with five banks including Citibank, DBS Bank, Mizuho Bank, Oversea-Chinese Banking Corporation and The Bank of Tokyo-Mitsubishi UFJ.
Proceeds from the facility will be used to refinance some of the Singapore government loans that were extended to the company for the development and construction of the initial phases of the Singapore LNG Terminal located on Jurong Island.
"This significant external borrowing represents another important step in the development of SLNG as a commercial entity, and reflects the growing confidence in the marketplace that the LNG industry in Singapore has a promising future ahead of it," said SLNG ceo John Ng.
