Avance Gas Holding Ltd (AGAS) has announced the successful completion of the $41.65 million sale and leaseback transaction with a Japanese lessor previously announced in October 2021.
The financing has a 9-year tenor with an implied 22-year age adjusted repayment profile and no repurchase obligation.
Following repayment of debt, the transaction generated approximately $16.6 million in net cash proceeds.
Source: Avance Gas