Fortescue Metals Group (FMG) has secured financing for its VLOCs newbuildings from China Development Bank Financial Leasing (CDB Leasing).
The finance lease facility funds 85% of the VLOC cost for a minimum of 12 years on what FMG described as “highly flexible terms”, including early repayment and extension options.
Under the terms of the $473m facility FMG can extend the term of the loan by a further three years as well as exercise early repayment after year four.
FMG
