Dorian LPG has successfully refinanced part of an existing $758m loan, extending its maturity by three years and winning Sweden’s SEB and France’s Credit Agricole as new lenders.
The company also announced a $71.5m sale-and-leaseback agreement for the 84,000-cbm VLGC Cresques (built 2015), with an unidentified Japanese financing house.
“Against the backdrop of volatile credit markets, we completed two important transactions that lowered our Libor margins and improved terms,” commented John Hadjipateras, chairman and chief executive of Dorian LPG.
