Shipping & Intermodal closes refinancing and facility increase for Navigator Gas

Corporate News -

NIBC’s Shipping & Intermodal has closed a refinancing and facility increase for Navigator Gas. The new facility totals is USD 280 million and the banking group providing the financing consists of Credit Agricole (Agent), NIBC, HSH and China EXIM. This new facility provides financing for nine vessels, four of which are currently operational, while the five remaining vessels are due for delivery in the course of 2015.

Navigator Gas, which is headquartered in London and listed on the New York Stock Exchange, is specialised in Liquefied Petroleum Gas tankers with a focus on the Handysize segment. With a fleet of 38 vessels (including 10 new-build vessels currently under construction), NG is the clear market leader in this segment.

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