London-based Navigator Holdings has arranged new financing to buy back a liquid ethylene gas (LEG) carrier from a sale-and-leaseback deal at a very attractive price.
The New York-listed LPG carrier owner said a secured term loan and revolving credit facility have been agreed with Credit Agricole, ING Bank and SEB for up to $147.6m.
Cash will be used to repurchase the 37,300-cbm Navigator Aurora (built 2016) from KKR-owned Norwegian operation Ocean Yield, which paid $69.75m
