Awilco LNG ASA (Awilco LNG or the Company) is pleased to announce the successful closing and completion of the up to 12-year sale/leaseback facility with CDB Financial Leasing Co., Ltd. (CDBL) for the Company’s two 2013-built 156,000 cbm TFDE LNG carriers WilForce and WilPride. As announced on December 4, 2023, and further updated on May 10, 2024.
The vessels are financed with a gross consideration of USD 100 million each. The vessels are chartered back on a bareboat basis to wholly owned subsidiaries of the Company for a period of up to 12 years. The facility bears a longer amortization profile and a longer tenor than the current facility and the floating interest rate structure has a lower margin which together reduce the Company's running cost and cash break-even level with approximately USD 10,000 per day per vessel.
The Company has rolling purchase options from the second anniversary and a purchase obligation from the tenth anniversary until maturity.
For further information please contact:
Jon Skule Storheill
Chief Executive Officer
Mobile: +47 913 44 356
Per Heiberg
Chief Financial Officer
Mobile: +47 952 20 264