SLNG agrees loan facility with five banks

Singapore LNG Corporation said it has secured a S$1.11 billion term loan facility with five banks.

Citibank, DBS Bank, Mizuho Bank, Oversea-Chinese Banking Corporation and The Bank of Tokyo-Mitsubishi UFJ are the five banks providing the loan. Societe Generale Corporate & Investment Banking acted as the financial advisor to SLNG in securing this loan facility, SLNG said in a statement.

Proceeds from the facility will be used to refinance some of the Singapore Government loans that were extended to SLNG for the development and construction of the initial phases of the Singapore LNG terminal located on Jurong Island, SLNG said.

This includes the construction of two jetties that can berth a wide range of liquefied natural gas carriers from 60,000m³ to 265,000m³; three LNG storage tanks of 180,000m³ each; and regasification facilities to support the current throughput capacity of 6 million tonnes per annum.

The terminal began commercial operations in May 2013 and to date, it has received 39 LNG vessels delivering more than 120 million mmBtu, or about 2.28 million metric tonnes, of LNG to Singapore.

1 Singapore dollar = 0.799808 USD

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Press Release; Image: SLNG

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