Höegh LNG of Norway said it has upsized its USD 400 million senior secured credit facility.
The company received commitment letters from a group of banks for a USD 400 million senior secured credit facility for the financing of FSRU #3 and FSRU #4.
Höegh LNG has entered into a firm agreement for the financing facility, which has been upsized to USD 412 million, the company said in a statement.
The facility is available for pre-and post-delivery financing, has a five year post-delivery tenor and a fifteen years repayment profile.
Banks participating in the financing are ABN Amro, Citibank, Crédit Agricole, Danske Bank, DNB, Nordea, and Swedbank. Eksportkreditt is providing fixed rate funding (CIRR) for 20% of the facility amount. The interest rate will be swapped from floating to fixed.
Höegh LNG’s President and Chief Executive Officer, Sveinung J. S. Støhle , said: “We are very pleased to have concluded this attractive financing for the last two of the four FSRUs currently under construction at Hyundai Heavy Industries.”
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