Höegh LNG announced that it has signed a new loan facility agreement with a group of banks to refinance Höegh Esperanza and Hoegh Gannet, both employed on long-term contracts in Germany.

The new loan facility agreement is for a total amount of USD 685 million and has a tenor of 10 years. The loan amount will be applied to repay the existing loan facilities and general corporate use. The facility is split in two tranches, one per vessel. Subject to customary closing conditions being fulfilled, Höegh LNG expects to complete the refinancing of Höegh Esperanza in February. The refinancing of Hoegh Gannet is expected to be completed March/April, depending on having successfully completed its commissioning for regas operations in Germany.

“We are very pleased with securing an attractive, long-term financing for these two FSRUs with a strong group of international banks” said Håvard Furu, the Chief Financial Officer of Höegh LNG.