BW LPG announces re-financing of six 2016 built ex-Aurora ships

By Finance

BW LPG Limited (BW LPG) announced earlier today that it has signed a Debt Facility Agreement of USD290 million for the re-financing of six 2016 built ex-Aurora ships.

BW LPG announces re-financing of six 2016 built ex-Aurora ships

The re-financing has been raised from The Export-Import Bank of Korea (KEXIM) as ECA (Export Credit Agency) lender, with ABN AMRO Bank N.V., Singapore branch and Oversea-Chinese Banking Corporation Limited as Mandated Lead Arrangers. ABN AMRO Bank N.V., Singapore branch also acted as coordinator and facility agent. The all-in cost for this financing is LIBOR plus 1.88%, with a 16-year amortization profile.

BW LPG Chief Executive Officer, Martin Ackermann, commenting on the transaction said, “This financing exemplifies our strategy of cost leadership, and our ability to leverage the BW LPG platform value in obtaining market-leading financing. The ex-Aurora fleet is now fully re-financed at similar competitive terms and structure as the rest of the BW LPG fleet, which further strengthens our competitive edge in a challenging market. We thank our lenders for their continued support.”

Source: BW LPG