Navigator Gas Secures $121.8 Million Financing for Two Ammonia Carriers

Corporate Action
โดย GlobeNewswire·Read original
Summary · why it matters

Navigator Holdings Ltd. has signed a $121.8 million senior secured post-delivery term loan to finance two newbuild ammonia carriers within its Navigator Amon Shipping AS joint venture. The facility, agreed with ING Bank N.V., London Branch, Société Générale and Oversea-Chinese Banking Corporation Limited, will cover up to 70% of the cost of the two 51,350 cubic metre capacity vessels upon delivery, with the remaining portion funded by the joint venture's shareholders. The vessels, capable of carrying both ammonia and liquefied petroleum gas, are under construction at Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. and are expected to be delivered in May 2028 and September 2028. The six-year loan carries interest at SOFR plus 1.35%, payable quarterly, and is secured by mortgages over the newbuilds, with guarantees from Navigator Holdings and Navigator Amon Shipping AS.

Impact on stocks 2

Financials▲ · 1 stocks
Societe Generale S.A.
GLE
▲ PositiveCapitalrelevance

Societe Generale is one of the lenders providing the $121.8 million financing facility.

Energy▲ · 1 stocks

Off-coverage companies 3

Navigator Amon Shipping ASPrivate▲ Positive
Capitalrelevance

Navigator Amon Shipping AS is the joint venture receiving the financing for its newbuild vessels.

Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd.Private▲ Positive
Supplyrelevance

Nantong CIMC Sinopacific is constructing the two ammonia carriers, benefiting from the shipbuilding contract.

Oversea-Chinese Banking CorporationPrivate▲ Positive
Capitalrelevance

OCBC is one of the lenders in the $121.8 million financing facility.

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