Navigator Holdings Ltd. has signed financing arrangements totaling $205.8 million for two newbuild gas carriers under construction in China, with delivery expected in 2027. A subsidiary entered into a secured pre-delivery term loan of up to $164.64 million with BNP Paribas Tokyo Branch to fund construction-stage obligations, covering up to 80% of pre-delivery instalments. Upon delivery, the bridge facility will transition into a $205.8 million long-term sale and leaseback under a Japanese Operating Lease with Call Option, Navigator Gas' first financing using this structure, which will cover the full purchase price of the vessels. The vessels will be sold to special purpose companies and bareboat chartered back to Navigator Gas subsidiaries, with the company retaining full commercial and technical operation and benefiting from purchase options, the last occurring eight and a half years after each delivery. This financing completes funding for four of the company's six newbuild vessels on order, with financing for the remaining two progressing well.
BNP Paribas SABNP Paribas Tokyo Branch is providing a $164.64 million secured pre-delivery term loan and the long-term sale and leaseback financing, generating fee income and business.
Navigator Holdings Ltd