Awilco LNG refinances ships in leasback deal

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Awilco LNG announcde that a term sheet for refinancing of the Company’s two 2013-built 156,000 cbm TFDEs WilForce and WilPride has been agreed and signed with a major leasing company based in Asia.

Subject to final credit and board approval, documentation, and customary closing conditions the Company will utilize its purchase options under the existing financing facility to repurchase the vessels from CCB Financial Leasing. The new financing is at par value of the outstanding debt and structured as a sale/leaseback similar to the current financing of the Vessels at improved terms, reducing the Company’s cost of finance.

The transaction is expected to close in the first half of 2024.

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