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

Hyundai Merchant Marine Seeks USD 8.9 bln from KDB

Image: Hyundai Merchant Marine

Hyundai Merchant Marine (HMM) requested the Korea Development Bank (KDB) to support with a total

Japan Bank Finances Danish Shipper

Photo: Japan Bank for International Cooperation (JBIC)

The Japan Bank for International Cooperation (JBIC) will provide a total of $28.3 million in

Diana Containerships Announces 1-for-6 Reverse Split

Photo: Diana Containerships Inc

Diana Containerships, a global shipping company specializing in the ownership of containerships

Legal

Harren & Partner to Acquire SAL Heavy Lift

Photo: SAL Heavy Lift

Bremen-based shipping company Harren & Partner and "K" Line, Tokyo, have reached an agreement for

Diana Containerships Announces 1-for-6 Reverse Split

Diana Containerships, a global shipping company specializing in the ownership of containerships, has announced that its Board of Directors  has determined to effect a reverse

France to Nationalize STX if Italy Deal Fails

File Image (CREDIT: AdobeStock / (c) Burnel11)

French govt has made 50/50 ownership offer to Italy; Minister says offer on the table until

Maritime Apps