Hoegh LNG Enters into USD 288 Million Debt Facilities Agreement (Norway)

Höegh LNG has entered into a USD 288 million debt facilities agreement providing 50 % funding for the two regasification vessels on order at Hyundai Heavy Industries Co. Limited for up to three years after delivery. 

The facilities agreement may also be used to fund up to two additional vessels covered by the option agreement with Hyundai when the vessel(s) on order have been refinanced. Long-term project financing will be raised for each of the new regasification vessels once employment is secured.

The debt facilities agreement confirms the financing offers received in connection with the ordering of the regasification vessels in June 2011.

The facilities agreement has been arranged by Citigroup Global Markets Limited, Credit Agricole Corporate and Investment Bank, DNB Bank ASA, Danske Bank A/S and Nordea Bank Norge ASA.

[mappress]

LNG World News Staff, November 30, 2011; Image: Höegh LNG