Höegh Gains More Financing for Newbuild FSRUs

Hoegh LNG FSRU
Rendering of an FSRU, via Hoegh LNG

Höegh LNG announced today they have received an upsized agreement with a number of banks to finance the final two FSRUs under construction at Hyundai Heavy Industries.

In January, the company received commitment letters for a USD $400 million Senior Secured Credit Facility, however that has now been increased to USD $412 million.

In their press release today, Hoegh notes:

“The Facility is available for pre-and post-delivery financing, has a five year post-delivery tenor and a fifteen years repayment profile. Banks participating in the financing are ABN Amro, Citibank, Crédit Agricole, Danske Bank, DNB, Nordea, and Swedbank. Eksportkreditt is providing fixed rate funding (CIRR) for 20% of the Facility amount.  The interest rate will be swapped from floating to fixed.”