Dorian LPG has secured a $97m bridge loan from DNB Capital and said it is now in a good position to manage an LPG market characterised by low rates.
The VLGC owner will use the new facility to repay $98.6m under its outstanding debt with Royal Bank of Scotland (RBS).
As part of the refinancing, $6m in previously restricted cash has been released and the company can now use it for operational purposes.
