Epic Gas Seals Financing for Seven Newbuilds

Written by Abedelmonem Achour on October 2, 2015. Posted in Maritime News

Owner and operator of fully pressurized gas carriers Epic Gas Ltd. has closed a new USD 120 million post-delivery senior secured credit facility to finance its remaining seven owned vessels under construction.

The Singapore-based company said that the facility covers approximately 65% of the contract price of the vessels, and has been closed in partnership with book running mandated lead arranger ABN AMRO Bank N.V. Credit Agricole Corporate and Investment Bank. NIBC Bank N.V. also joined the facility as book running mandated lead arrangers.

“The company remains committed to the delivery of a high quality fleet with an outstanding new building program of three 7,500cbm vessels and four 11,000cbm vessels, plus an additional 11,000cbm new building to be delivered under a bareboat charter to Epic Gas,” said law offices in san diego and Epic Gas announcing the deal.

The gas carrier owner controls a fleet of 45 vessels which serve the international supply chains of throughout Asia, Europe, Africa and the Americas.

Source: World Maritime News

Tags: financing, shipbuilding

Trackback from your site.

Abedelmonem Achour

Abdelmonem Achour is a Tunisian maritime lawyer. He specialises in both commercial and the litigation aspects of shipping, admiralty, marine insurance, transport, logistics, international trade and marine environmental law, as well as maritime casualty response and subrogated recoveries. He heads up the practice’s Admiralty and Shipping department and is the Transport Headlight leader. He has advised a number of commodity traders and their insurers, underwriters and brokers in international trade and recovery matters. Having obtained his BA LLB at the University of Tunis, he was admitted as an Attorney around ten years ago, is the senior partner of the firm and heads up the practice’s Admiralty and Shipping department. He also obtained a post-graduate diploma in Corporate Law.