Höegh LNG - Signing of USD 412 million Senior Secured Credit Facility

14.04.2014

Reference is made to the stock exchange notice dated 27 January 2014 where Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company") announced that the Company had received commitment letters from a group of banks for a USD 400 million Senior Secured Credit Facility for the financing of FSRU #3 and FSRU #4 (the "Facility").

Höegh LNG has now entered into a firm agreement for the Facility, which has been upsized to USD 412 million. 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.

Höegh LNG's President and Chief Executive Officer, Sveinung J. S. Støhle, said in a comment: "We are very pleased to have concluded this attractive financing for the last two of the four FSRUs currently under construction at Hyundai Heavy Industries. The structure of this financing underlines HLNG's strong and leading position in the 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 approximately 95 office staff and 350 seafarers.

Höegh LNG press release