Brief: Exmar: Financing Update On FLNG And VLGC’s

EXMAR NV

23/01/2020 18:26

Jan 23 (Reuters) - Exmar NV  EXMR.BR :
    * FINANCING UPDATE FLNG AND VLGC’S
    * SINOSURE HAS APPROVED THE RELEASE OF APPROXIMATELY USD 40
MILLION FROM THE DEBT SERVICE RESERVE ACCOUNT UNDER THE TANGO
FLNG LOAN FACILITY
    * DOCUMENTATION FOR RELEASE OF RESTRICTED CASH HAS BEEN
SIGNED
TODAY AND EFFECTIVE RELEASE WILL OCCUR WITHIN COMING DAYS
    * EXMAR HAS TWO VERY LARGE GAS CARRIERS UNDER CONSTRUCTION
AT
JIANGNAN, DUE FOR DELIVERY IN THE COURSE OF 2021
    * TWO VESSELS WILL EACH ENTER A FIVE YEAR TIME-CHARTER TO
EQUINOR
UPON DELIVERY FROM THE SHIPYARD
    * EXMAR IS IN A STABLE CASH POSITION TO COVER ITS CURRENT
LIABILITIES AND ADDRESS ITS FUTURE CASH REQUIREMENTS UNTIL THE
EFFECTIVE RELEASE OF THE DEBT SERVICE RESERVE ACCOUNT
    * EXMAR HAS OBTAINED AND DRAWN UNDER A PRE-DELIVERY
FINANCING OF
USD 20 MILLION WITH MARITIME ASSET PARTNERS

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

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