Navigator Holdings Inks USD 160 Million Loan
- Business & Finance
Owner and operator of handysize liquefied gas carriers Navigator Holdings has entered into a secured facility agreement worth USD 160 million.
The loan was secured by Nordea Bank AB (Publ), BNP Paribas, DVB Bank America N.V., ING Bank N.V., and Skandinaviska Enskilda Banken AB.
The company said that it intends to use the loan to refinance an existing loan facility that is due to mature in February 2018, along with general corporate and working capital purposes.
The facility agreement consists of a term loan facility in the sum of USD 100 million and a revolving credit facility for USD 60.8 million.
As disclosed, the loan matures in six years, bears interest at an annual rate of U.S. LIBOR plus a margin of 2.3% and will be secured by eight of the company’s vessels.