Awilco Refinances LNG Carriers

Norwegian LNG transporter Awilco LNG has signed a term sheet for the refinancing of its 156,000-m³ tri-fuel diesel propulsion (TFDP) WilForce and WilPride LNG carriers, built in 2013, it said on August 2.

The term sheet was agreed with an Asia-based leasing company, Awilco said, without revealing their identity. The refinancing is taking the form of a sale/leaseback, it said, similar to the vessels' current financing model.

The deal also allows for a full take out of the sale/leaseback facilities maturing at the end of this year at favourable terms, according to Awilco. The facility should be finalised in the fourth quarter, pending final credit approval.