Höegh LNG - Höegh LNG has received commitment letters for a USD 400 million Senior Secured Credit Facility for the financing of FSRU #3 and FSRU #4

27.01.2014

Höegh LNG has received commitments letters from seven international banks for a USD 400 million Senior Secured Credit Facility for the financing of FSRU #3 and FSRU #4 (the "Facility"). The Facility has a five year post delivery tenor and a fifteen years repayment profile. The Facility is without charter employment requirements and available also for pre-delivery financing. Commitments are subject final documentation, which is in progress.

Banks participating in the Facility are ABN Amro, Citibank, Crédit Agricole, Danske Bank, DNB, NORDEA, and Swedbank.

Höegh LNG's President and Chief Executive Officer, Sveinung J. S. Støhle, said in a comment: "We are pleased to have received commitments from our banks for this attractive financing for the last two of the four FSRUs currently under construction at Hyundai Heavy Industries. With this Facility the vessels are fully funded. The structure of this financing underlines the strength of and HLNG's leading position in the fast growing FSRU market."

About Höegh LNG
Höegh LNG is a provider of floating LNG infrastructure services, offering regasification, transportation and production services under long-term contracts. The company operates a fleet of two floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and four LNG transportation vessels. In addition, Höegh LNG has four new FSRUs on order and has developed a solution for floating LNG production (FLNG). Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London, Tampa and Jakarta. The company employs about 85 office staff and 350 seafarers.

Höegh LNG press release