Epic Gas closes USD 120 million senior secured credit facility for remaining 7 newbuildings

By Finance

Epic Gas Ltd. announced on Wednesday (Sept 30) that it has closed a new USD 120 million post-delivery senior secured credit facility to finance its remaining seven owned vessels under construction.

Epic Gas closes USD 120 million senior secured credit facility for remaining 7 newbuildings

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The facility covers approximately 65% of the contract price of the vessels, and has been closed in partnership with Coordinator, Agent and Book running Mandated Lead Arranger ABN AMRO Bank N.V. Credit Agricole Corporate and Investment Bank and NIBC Bank N.V. also joined the facility as Book running Mandated Lead Arrangers.

The Company remains committed to the delivery of a high quality fleet with an outstanding new building program of three 7,500cbm vessels and four 11,000cbm vessels, plus an additional 11,000cbm new building to be delivered under a bareboat charter to Epic Gas.

Source:epic-gas.com