Epic Gas Secured Credit Facility for 7 Newbuilds
By Aiswarya Lakshmi
Friday, October 2, 2015
Epic Gas Ltd has closed a new USD 120 million post-delivery senior secured credit facility to finance its remaining seven owned vessels under construction.
The facility covers approximately 65% of the contract price of the vessels, and has been closed in partnership with Coordinator, Agent and Book running Mandated Lead Arranger ABN AMRO Bank N.V. Credit Agricole Corporate and Investment Bank and NIBC Bank N.V. also joined the facility as Book running Mandated Lead Arrangers.
The Company remains committed to the delivery of a high quality fleet with an outstanding new building program of three 7,500cbm vessels and four 11,000cbm vessels, plus an additional 11,000cbm new building to be delivered under a bareboat charter to Epic Gas.
Epic Gas owns and operates a fleet of fully pressurised gas carriers providing seaborne services for the transportation of liquefied petroleum gas and petrochemicals.
The Company controls a fleet of 45 vessels which serve the international supply chains of leading oil majors and commodity trading houses throughout Asia, Europe, Africa and the Americas.