Qatar Shipping, a wholly owned subsidiary of Milaha announced today the securing of a 12 year, US $425 million fixed-term ship financing facility with a consortium of the following banks:
- The Bank of Tokyo Mitsubishi UFJ, Ltd
- Mizuho Bank, Ltd.
- Sumitomo Mitsui Banking Corporation Europe Ltd
- Sumitomo Mitsui Trust Bank, Ltd
- Mitsubishi UFJ Trust and Banking Corporation
- Shinsei Bank, Ltd
- Development Bank of Japan Inc.
- Standard Chartered Bank
Proceeds from the facility will be utilized by all four JV partners to refinance existing debt facilities on four LNG vessels – S/S Fuwairit, SS Lusail, S/S Al Thakhira and S/S Al-Deebel.
The four vessels are owned by JV companies, wholly-owned byvessel sponsors: Qatar Shipping Company (the largest shareholder), Mitsui O.S.K. Lines, Nippon Yusen Kabushiki Kaisha and Kawasaki Kisen Kaisha – all chartered to Ras Laffan Liquefied Natural Gas Company in Qatar on a long-time charter basis.