Refinancing and facility increase for Navigator Gas
NIBC’s Shipping & Intermodal has closed a refinancing and facility increase for Navigator Gas in April 2015. This facility totals USD 280 million and the banking group providing the financing consists of Credit Agricole (Agent), NIBC, HSH and China EXIM. This facility provides financing for nine vessels, four of which were already operational, while the five remaining vessels were delivered in 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 5 new-build vessels currently under construction), NG is the clear market leader in this segment.
We are delighted to support market leader Navigator Gas as part of this US$ 280 million syndicate and refinancing of an existing facility. This solution provides vital financing to support this client’s growth ambitions in the years ahead, and demonstrates NIBC’s unwavering commitment to the Shipping & Intermodal segment. – Michael de Visser, NIBC