Brief: Exmar: Financial Update

EXMAR NV

22/12/2020 18:12

Dec 22 (Reuters) - EXMAR NV  EXMR.BR :
    * ON 14TH DECEMBER 2020, THE REFINANCING OF THE BANK
FACILITY OF
EXMAR’S LPG MIDSIZE FLEET HAS BEEN COMPLETED FOR AN AMOUNT OF
USD 310 MILLION
    * LEASE FINANCING OF THE FIRST OF TWO VLGC NEW BUILDINGS
UNDER
CONSTRUCTION AT JIANGNAN SHIPYARD IS FULLY COMMITTED AND SUBJECT
TO DOCUMENTATION
    * EUR 18 MILLION REVOLVING CREDIT FACILITY, WHICH WAS
SUSPENDED
FOLLOWING YPF DISPUTE, HAS NOW BEEN RELEASED
    * FURTHER TO SETTLEMENT AGREEMENT SIGNED WITH YPF S.A. ON
TANGO
FLNG, PAYMENTS OF USD 40 MILLION HAVE BEEN RECEIVED SO FAR AND
HAVE BEEN USED FOR FULL REPLENISHMENT OF DSRA UNDER FACILITY
AGREEMENT WITH BANK OF CHINA (AMOUNTING TO USD 66 MILLION)
    * ALL OF THE ABOVE WILL GRADUALLY IMPROVE THE CASH POSITION
OF
EXMAR IN THE COURSE OF 2021

Source text for Eikon:  ID:nNDL91cZNP 
Further company coverage:  EXMR.BR 

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