Höegh LNG completes bond refinancing

Norway-based floating LNG giant Höegh LNG said it has refinanced its Nordic bond maturing in June with two new debt facilities. 

Refinancing of the Nordic bond maturing in June has been completed with two debt facilities, a new and smaller Nordic bond and a revolving credit facility (RCF).

“Refinancing part of the bond with an RCF gives us more financial flexibility and reduces our financing cost,” the company said in a brief statement through its social media channels.

To remind, the company secured an $80 million loan from three of its relationship banks.

Additionally, Höegh LNG completed a new senior unsecured bond issue of NOK 650 million ($72.9 million) with maturity date 30 January 2025.

In connection with the placement of the new bond issue, Höegh LNG has repurchased $28.4 million of the HLNG02 bonds.

Danske Bank, DNB Markets, Nordea, Swedbank and ABN AMRO acted as Joint Lead Managers for the bond issue.