Earlier this month, the company received firm commitments from a syndicate of eleven banks and the Export-Import Bank of Korea (KEXIM) for the financing.
Specifically, the facility will be divided into a commercial bank loan of USD 250 million, a KEXIM guaranteed loan, funded by commercial banks, of USD 189.1 million and a KEXIM direct loan of USD 189.9 million.
“Having already executed USD 650 million in new financings during 2019, the new USD 629 million facility for the five newbuildings delivering in 2020 means have we secured long term funding for 11 of our 13 vessels, with comfortable remaining capex for the two vessels delivering in 2021,” Harald Gurvin, CFO of Flex LNG Management, commented.
