Norway's Awilco LNG has reached a deal with CCB Financial Leasing (CCBFL) to ease covenant requirements in the downturn in the segment.
The Oslo-listed company said the amendments are temporary measures relating to the sale and leaseback contracts for its two 156,000-cbm tri-fuel diesel-electric LNG carriers WilPride and WilForce (built 2013).
The minimum cash covenant of $10m has been reduced to $2m, while the positive working capital financial covenant has been waived.
