Brief: EXMAR Says Bank Of China Releases $40 Million Under Loan Facility For TANGO FLNG

EXMAR NV

27/02/2020 07:26

Feb 27 (Reuters) - Exmar NV  EXMR.BR :
    * BANK OF CHINA HAS RELEASED THE AMOUNT OF 40 MILLION USD
FROM THE
DEBT SERVICE RESERVE ACCOUNT, UNDER THE LOAN FACILITY FOR THE
TANGO FLNG
    * RELAXATION OF THE CASH COLLATERAL FOLLOWS THE STEADY
OPERATIONAL
RESULTS OF THE TANGO FLNG SINCE SEPTEMBER 2019, UNDER THE
10-YEARS’ CHARTER WITH YPF S.A
    * 40 MILLION USD TO BE PARTIALLY ALLOCATED TO REPAYMENT OF
BRIDGE
LOANS FROM BELFIUS AND NORDEA WHO ASSISTED EXMAR IN THIS INTERIM
PERIOD AND TO COVER EXMAR’S CAPITAL COMMITMENTS
    * EXMAR NV SAYS UNEXPECTED DELAYS IN THE RELEASE OF THE 40
MILLION
USD CAUSED EXMAR TO CONTINUE TO PAY CAREFUL ATTENTION TO THE
LIQUIDITY OF THE COMPANY
    * RECEIPT OF THIS RESTRICTED CASH TOGETHER WITH OTHER
ANTICIPATED
CASHFLOWS ALLOWS EXMAR TO COVER ITS FINANCIAL COMMITMENTS
BUDGETED FOR THE YEAR 2020

Source text for Eikon:  ID:nNDL42z6z0 
Further company coverage:  EXMR.BR 

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