Antwerp - 11 Nov 2021
EXMAR is pleased to announce that it has signed a three-year facility agreement of up to USD 50 million with Sequoia Economic Infrastructure Income Fund (SEQI).
The applicable interest rate is the aggregate of LIBOR plus a margin between 7% and 8.75%, depending on net leverage.
The loan will be used to repay part of the current NOK 650 million bond issued by EXMAR Netherlands BV at maturity (May 2022). The remaining will be repaid with available cash.
EXMAR is a provider of floating solutions for the operation, transportation and transformation of gas. EXMAR's mission is to serve customers with innovations in the field of offshore extraction, transformation, production, storage and transportation by sea of liquefied natural gases, petrochemical gases and liquid hydrocarbons. EXMAR creates economically viable and sustainable energy value chains in long-term alliances with first class business partners.
EXMAR designs, builds, certifies, owns, leases and operates specialized, floating maritime infrastructure for this purpose as well as aiming for the highest standards in performing commercial, technical, quality assurance and administrative management for the entire maritime energy industry. EXMAR is listed on Euronext Brussels (EXM) and is part of the BEL Small Index.
Sequoia Economic Infrastructure Income Fund
SEQI (www.seqifund.com) is a FTSE 250 investment trust, which specializes in economic infrastructure debt. The company seeks to provide investors with regular, sustained, long-term distributions and capital appreciation from a diversified portfolio of senior and subordinated economic infrastructure debt investments. The company is advised by Sequoia Investment Management Company Limited.
EXMAR NV press release