Norway´s Awilco LNG has declared purchase options for its two 156,000 cbm TFDE membrane LNG vessels WilForce and WilPride.
Jon Skule Storheill-led company has sealed a deal with a major leasing company based in Asia to refinance the company’s two 2013-built 156,000 cbm TFDEs WilForce and WilPride.
The agreement has been signed and approved and is subject to final credit and board approval, documentation, and customary closing conditions.
The LNG transportation provider which ownes and operates LNG vessels will utilize its purchase options under the existing financing facility to repurchase the vessels from CCB Financial Leasing.
Avilco LNG said the new financing is at par value of the outstanding debt and structured as a sale/leaseback similar to the current financing of the vessels at improved terms, reducing the company’s cost of finance.
The new transaction is expected to close in the first half of 2024.
