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Long-term Debt - Related Party | 6 Months Ended
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Jun. 30, 2022
Debt Disclosure [Abstract] |
Long-term debt - related party | 11. Long-term debt – related party The Company’s related party long-term debt consists of the following (in thousands):
| June 30, 2022 |  |  | December 31, 2021 |
Exquisite Vessel Financing | $ | 192,428 |  |  | $ | 196,213 |
KFMC Note |  | — |  |  |  | — |
KFMC-ENE Onshore Note |  | 6,500 |  |  |  | 2,100 |
Total related party debt |  | 198,928 |  |  |  | 198,313 |
Less current portion |  | (7,369 | ) |  |  | (7,096 | )
Total long-term related party debt | $ | 191,559 |  |  | $ | 191,217 |
Exquisite Vessel Financing In June 2018, the Company entered into a sale leaseback agreement with Nakilat Excelerate LLC, its equity method investment (“Nakilat JV”), to provide $220.0 million of financing for the Exquisite vessel at 7.73% (the “Exquisite Vessel Financing”). The agreement was recognized as a failed sale leaseback transaction and was treated as financing due to the Company’s lease of the vessel. KFMC Note In November 2018, the Company entered into a promissory note (the “KFMC Note”) with Kaiser-Francis Management Company, L.L.C. (“KFMC”), an affiliate of Kaiser, as lender. The KFMC Note was amended and restated in its entirety in September 2021 and further amended in October 2021, allowing EELP to draw funds up to $250 million through December 31, 2023 at LIBOR plus 1.55%. Upon consummation of the IPO, the KFMC Note was replaced by the EE Revolver, as discussed in Note 10 – Long-term debt. KFMC-ENE Onshore Note In November 2021, KFMC and Excelerate New England Onshore, LLC (“ENE Onshore”) entered into a note (the “KFMC-ENE Onshore Note”) with a maximum commitment of $25 million at an interest rate of one-month LIBOR plus 1.5% (3.3% at June 30, 2022), which matures in December 2023.

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