Financing ·
Navigator Holdings Ltd. announced that its JVCO subsidiaries entered into a senior secured post-delivery term loan…
NVGSNavigator Holdings Ltd.
Navigator Holdings Ltd. announced that its JVCO subsidiaries entered into a senior secured post-delivery term loan facility with ING Bank N.V., Société Générale, and Oversea-Chinese Banking Corporation Limited to finance the delivery of two new ammonia-fuelled liquefied ammonia carriers. The lenders agreed to make available up to $121,800,000, covering 70% of the vessel costs under shipbuilding contracts with Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. Delivery is scheduled for May 2028 and September 2028. The six-year facility bears interest at SOFR plus 1.35%, payable quarterly, and is secured by mortgages over the vessels, with guarantees from Navigator Holdings Ltd. and Navigator Amon Shipping AS. Navigator Holdings Ltd. operates in the maritime shipping industry, owning and operating one of the world's largest fleets of handysize liquefied gas carriers.