(Singapore, 24 March 2017)
BW LPG Limited ("BW LPG", the "Company", OSE ticker code: "BWLPG")
announced today that it has signed a Debt Facility Agreement of
USD290 million for the re-financing of six 2016 built ex-Aurora
ships.
The re-financing has been raised from The Export-Import Bank of
Korea ("KEXIM") as ECA (Export Credit Agency) lender, with ABN AMRO
Bank N.V., Singapore branch and Oversea-Chinese Banking Corporation
Limited as Mandated Lead Arrangers. ABN AMRO Bank N.V., Singapore
branch also acted as coordinator and facility agent. The all-in cost
for this financing is LIBOR plus 1.88%, with a 16-year amortization
profile.
BW LPG Chief Executive Officer, Martin Ackermann, commenting on the
transaction said, "This financing exemplifies our strategy of cost
leadership, and our ability to leverage the BW LPG platform value in
obtaining market leading financing. The ex-Aurora fleet is now fully
re-financed at similar competitive terms and structure as the rest
of the BW LPG fleet, which further strengthens our competitive edge
in a challenging market. We thank our lenders for their continued
support."
For further information, please contact:
Elaine Ong, CPA, CA
Chief Financial Officer
BW LPG Limited
Tel: +65 6705 5506
Email: elaine.ong@bwlpg.com
John Papaioannou, CFA
Senior Manager, Strategy & Investor Relations
BW LPG Limited
Tel: +65 6705 5514
Email: john.papaioannou@bwlpg.com
About BW LPG
BW LPG is the world's leading owner and operator of LPG vessels. BW
LPG currently owns and operates 55 Very Large Gas Carriers (VLGC)
and Large Gas Carriers (LGC) including two VLGC newbuildings with a
total carrying capacity of 4.5 million cbm. With four decades of
operating experience in LPG shipping and experienced seafarers and
staff, BW LPG offers a flexible and reliable service to customers.
BW LPG is associated with BW Group, one of the world's leading
shipping groups. BW Group is involved in oil and gas transportation,
floating gas infrastructure, environmental technologies and deep-
water production.
This information is subject to disclosure requirements pursuant to
Section 5-12 of the Norwegian Securities Trading Act.