Norway: Höegh LNG secures funding for FSRU


Norway: Höegh LNG secures funding for FSRU
Hegnar Online, 24 Jul 2017, online:-
Norwegian shipping company Höegh LNG has ensured funding totalling USD 230mn (EUR 197.19mn) in conjunction with the delivery of its eighth FSRU. The funding is divided between a 12-year loan of up to USD 150mn with support from Norwegian banks Exportkreditt Norge and the Norwegian Export Credit Guarantee Agency (Garanti-instituttet for eksportkredit), and a 5-year non-amortising loan of USD 80mn from a consortium including banks such as Danske Bank, Nordea and Swedbank. The funding will cover 65% of the FSRU costs, a stake which could increase to 75% if the FSRU becomes employed for a longer period of time.
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