Awilco’s financing of LNG carrier duo gets credit approval

A term sheet for the financing of two Awilco’s liquefied natural gas (LNG) carriers has been credit approved.

To remind, the Norwegian LNG transportation provider agreed and signed a term sheet for the two LNG carriers in early August.

The sale/leaseback facility, provided by CCB Financial Leasing – a wholly-owned unit of China Construction Bank (CCB), is for the two 2013-built 156,000-cbm TFDE LNG carriers WilForce and WilPride.

The facility bears a 14-year straight-line amortization profile, a tenor of 10 years, and carries a floating interest rate structure.

The facility is expected to close in the fourth quarter of 2019, subject to final documentation and customary closing conditions.