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Tor Olav Trøim-backed floating liquefied natural gas (FLNG) specialist Golar LNG has struck a deal with a consortium of Chinese lessors which will see the refinancing of the existing debt on the FLNG Gimi vessel.
The agreement, structured as a sale and leaseback is worth about $1.2bn and expected to close in the second quarter of this year, the Nasdaq-listed company said.
It will have a tenor of 12 years and a 17-year amortisation profile, with quarterly repayment installments throughout the lease period.
Golar’s 70%-owned Gimi MS Corporation is expected to generate net proceeds of around $530m, after repayment of the existing debt.
The vessel is operating at BP’s Greater Tortue Ahmeyim (GTA) project offshore Mauritania and Senegal under a long-term contract until 2045.
The post Golar bags $1.2bn FLNG vessel refinancing appeared first on Energy News Beat.
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