Epic Gas, the Singapore-based gas carrier specialist, says it is completed the $90m refinancing of 14 of its fleet of LPG carriers.
Proceeds from the facility were used to repay amounts outstanding under its existing facilities with DVB Bank and Norddeutsche Landesbank which are due to expire in December 2017 and 2019/2020, respectively.
“The new $90m facility has an advance rate of 55% of the fair market value of the underlying vessels and matures in 2024,” Epic Gas said in a statement.
