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Seapeak LNG shipowner-operator has refinanced one of its LNG carriers by acquiring the vessel from its original lessor.
In a US securities and exchange commission filing on August 15, the company unveiled that during June it refinanced the Seapeak Oak LNG carrier by acquiring the vessel from its original lessor for a total cost of $120.8m, and then selling the vessel to another lessor for $145.3m, and leasing it back for a period of 8 years.
The company is obligated to repurchase the vessel at the end of the lease term for $45m, Seapeak said in its interim consolidated financial statement.
Meanwhile the owner in July 2024 gave notice to exercise its repurchase options to acquire three of its NGL carriers, the Ineos Insight, Ineos Ingenuity, and Ineos Intrepid, for a total cost of $93.6m. The company expects to complete these repurchases and enter into new financing arrangements in August 2024 to October 2024.
Furthermore, the shipowner on August 12 sold and delivered its wholly-owned multi-gas carrier, the Seapeak Pan, to its buyer for net proceeds of $6.5m.
At the beginning of the year, the company also gave notice to exercise its repurchase options to acquire two of its NGL carriers, the Ineos Inuition and the Ineos Invention, for a total cost of $75.2m.
As it is reported by the owner, it expects to complete these repurchases and enter into new financing arrangements for these vessels in August 2024.
