rss icon Subscribe
desktop mobile

Dynagas Closes USD 480mln Term Loan B

Photo: Dynagas

By Aiswarya Lakshmi

Dynagas LNG Partners, an international owner and operator of liquefied natural gas (LNG) carriers, announced the closing of a USD 480 million Senior Secured Term Loan B facility (the "Term Loan B") by its wholly-owned subsidiary, Arctic LNG Carriers Ltd.

The Term Loan B is secured by, among other collateral, first priority mortgages on the vessels owned by borrower subsidiary guarantors, and is guaranteed by the Partnership and certain of its subsidiaries.
The Term Loan B has a six year term and was priced at LIBOR plus 450 basis points. The Partnership intends to use the net proceeds of the Term Loan B Facility to (i) repay in full its existing secured indebtedness, (ii) pay transaction fees and expenses and (iii) for general corporate purposes.
Credit Suisse Securities (USA) LLC and Barclays acted as joint global coordinators, joint lead arrangers and joint book runners of the Term Loan B. Credit Suisse AG will be acting as administrative agent and collateral agent. Credit Suisse AG and Barclays acted as Co-syndication agents.
Dynagas LNG Partners owns and operates LNG carriers employed on multi-year charters. The Partnership's current fleet consists of six LNG carriers, with aggregate carrying capacity of approximately 914,000 cubic meters.

May 18, 2017

 

Finance

ICTSI Terminates Nigeria Port Project

Photo: International Container Terminal Services

International Container Terminal Services (ICTSI) subsidiary Lekki International Container

Marseille Fos to Cut Dues for Eco-friendly Ships

File photo: Marseille Fos

Marseille Fos has joined the World Ports Climate Initiative (WPCI) and is now set to reduce port

US Drillers Add Oil Rigs in a Record Streak but Pace Slows

© Natalia Bratslavsky / Adobe Stock

U.S. energy firms added oil rigs for a record 19 weeks in a row as expectations of higher crude

Legal

ICTSI Terminates Nigeria Port Project

International Container Terminal Services (ICTSI) subsidiary Lekki International Container Terminal Services LFTZ Enterprise (LICTSE) has given up on its Nigerian port project

StealthGas Achieves High Revenue

Photo: StealthGas Inc

StealthGas, ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the

Global Shipping Regulations for a Level Playing Field

IMO Secretary-General Kitack Lim (left) with EMSA Executive Director, Markku Mylly (right). Photo:  International Maritime Organization (IMO)

The relationship between global shipping regulation, through  International Maritime Organization

Maritime Apps