Singapore owner BW LPG has completed the refinancing of six VLGCs acquired as part of its takeover of Aurora LPG.
The loan of $290m has been raised from the Export-Import Bank of Korea (Kexim) as export credit agency, with ABN AMRO and OCBC as lead arrangers.
The debt carries interest of Libor plus 1.88% with amortisation of 16 years.
BW LPG CEO Martin Ackermann said: “This financing exemplifies our strategy of cost leadership, and our ability to leverage the BW LPG platform value in obtaining market leading financing.
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