George Kaiser’s Excelerate Energy has teamed up with CMB Financial Leasing in a sale-and-leaseback deal.
CMB has bought the 173,400-cbm FSRU Experience (built 2014) which will be chartered back to Excelerate for 10 years.
In a statement, Excelerate explains the transaction allows it to swap short-term debt for long-term debt at the ultimate shareholder level.
It adds the deal strengthens its balance sheet and leaves it with a debt-to-book equity ratio of roughly 1:1.
“The
