Brief: Hoegh Autoliners Announces New Long-Term Financing Arrangements

Hoegh Autoliners ASA

09/04/2024 06:14

April 9 (Reuters) - Hoegh Autoliners ASA  HAUTO.OL :
    * NEW LONG-TERM FINANCING ARRANGEMENTS
    * NEW FLEET FACILITY HAS A 6-YEAR TENOR, COMES WITH REDUCED
INTEREST RATES AND IS COVENANT-LIGHT
    * TOTAL FACILITY SIZE IS USD 720 MILLION, OUT OF WHICH USD
350
MILLION IS ALREADY DRAWN AND OTHER USD 90 MILLION WILL BE DRAWN
IN CONNECTION WITH PURCHASE OF H. JACKSONVILLE AND HÖEGH JEDDAH,
WITH DELIVERY IN APRIL AND SEPTEMBER 2024 RESPECTIVELY
    * REMAINING USD 280 MILLION WILL BE DRAWN IN CONNECTION WITH
DELIVERY OF AURORA NEWBUILDS NUMBER 1,2,5 AND 6
    * IN ADDITION TO USD 720 MILLION FLEET FACILITY, HÖEGH
AUTOLINERS
HAS SECURED A USD 200 MILLION NON-AMORTIZING, FOUR-YEAR CREDIT
FACILITY
    * THIS FACILITY IS CURRENTLY UNDRAWN AND WILL SERVE AS AN
ADDITIONAL LIQUIDITY RESERVE AND PROVIDE FLEXIBILITY FOR FUTURE
CAPITAL ALLOCATION

Source text for Eikon:  ID:nObiZJ9Gfa 
Further company coverage:  HAUTO.OL 

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