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Höegh LNG Secures USD 80 Mn Loan

15 January 2020

Norwegian shipowner Höegh LNG Holdings Ltd. has received commitment letters for a revolving credit facility of up to USD 80 million with security in the company’s common units in Höegh LNG Partners LP.

The company said that the loan was provided by three of the company’s relationship banks. The facility has a tenor of 2 years and an estimated interest rate of about 5.2% for drawn amounts based on the current floating interest rates.

“This revolving credit facility proves the importance of Höegh LNG’s strong and long-lasting relationship with our core banks. The facility provides Höegh LNG with flexible financing, in line with the company’s financial strategy, while at the same time reducing the financial costs,” Sveinung J. S. Støhle, CEO & President of Höegh LNG said.

Höegh LNG plans to use the proceeds to refinance part of the HLNG02 bond loan which matures in June 2020 and general corporate purposes.

The facility is subject to final documentation, which is expected to be completed during the first quarter of 2020.

Separately,  Höegh LNG Holdings has mandated Danske Bank, DNB Markets, Nordea, Swedbank and ABN AMRO to arrange a series of fixed income investor meetings commencing today. Subject to inter alia market conditions, a NOK denominated 5-year senior unsecured bond issue may follow.

The proceeds from the potential bond issue are intended to be used to refinance debt and general corporate purposes.

Source: World Maritime News

 

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Today
8:03am
Hi Jenna! I made a new design, and i wanted to show it to you.
8:03am
It's quite clean and it's inspired from Bulkit.
8:12am
Oh really??! I want to see that.
8:13am
FYI it was done in less than a day.
8:17am
Great to hear it. Just send me the PSD files so i can have a look at it.
8:18am
And if you have a prototype, you can also send me the link to it.

Monday
4:55pm
Hey Jenna, what's up?
4:56pm
Iam coming to LA tomorrow. Interested in having lunch?
5:21pm
Hey mate, it's been a while. Sure I would love to.
5:27pm
Ok. Let's say i pick you up at 12:30 at work, works?
5:43pm
Yup, that works great.
5:44pm
And yeah, don't forget to bring some of my favourite cheese cake.
5:27pm
No worries

Today
2:01pm
Hello Jenna, did you read my proposal?
2:01pm
Didn't hear from you since i sent it.
2:02pm
Hello Milly, Iam really sorry, Iam so busy recently, but i had the time to read it.
2:04pm
And what did you think about it?
2:05pm
Actually it's quite good, there might be some small changes but overall it's great.
2:07pm
I think that i can give it to my boss at this stage.
2:09pm
Crossing fingers then

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