Epic Gas Seals Financing for Seven Newbuilds
- Business & Finance
Owner and operator of fully pressurized gas carriers Epic Gas Ltd. has closed a new USD 120 million post-delivery senior secured credit facility to finance its remaining seven owned vessels under construction.
The Singapore-based company said that the facility covers approximately 65% of the contract price of the vessels, and has been closed in partnership with book running mandated lead arranger ABN AMRO Bank N.V. Credit Agricole Corporate and Investment Bank. 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,” said Epic Gas announcing the deal.
The gas carrier owner controls a fleet of 45 vessels which serve the international supply chains of throughout Asia, Europe, Africa and the Americas.