Hoegh LNG Secures USD 400 Mln Loan for Two FSRUs

Höegh LNG said it has received commitments letters from seven international banks for a USD 400 million Senior Secured Credit Facility for the financing of FSRU #3 and FSRU #4.

The facility has a five year post delivery tenor and a fifteen years repayment profile. The facility is without charter employment requirements and available also for pre-delivery financing. Commitments are subject final documentation, which is in progress.

Banks participating in the Facility are ABN Amro, Citibank, Crédit Agricole, Danske Bank, DNB, NORDEA, and Swedbank.

Höegh LNG’s President and Chief Executive Officer, Sveinung J. S. Støhle, said in a comment: “We are pleased to have received commitments from our banks for this attractive financing for the last two of the four FSRUs currently under construction at Hyundai Heavy Industries. With this Facility the vessels are fully funded. The structure of this financing underlines the strength of and HLNG’s leading position in the fast growing FSRU market.”