Dynagas LNG Partners agrees $480 mln loan

Dynagas LNG Partners, a partnership formed by Dynagas, said its unit, Arctic LNG Carriers secured a $480 million loan.

The Partnership intends to use the net proceeds of the loan facility to repay in full its existing secured indebtedness, pay transaction fees and expenses and for general corporate purposes.

Credit Suisse Securities and Barclays acted as joint global coordinators, joint lead arrangers and joint book runners of the loan.

The Partnership’s current fleet consists of six LNG carriers, with an aggregate carrying capacity of approximately 914,000 cubic meters.