Dorian Lpg Ltd. Announces Completion Of Japanese Financing Transactions For 2 2015-Built Vlgcs And Sale Of Its 2008-Built Vlgc Captain Nicholas Ml
Dorian Lpg Ltd. Announces Completion Of Japanese Financing Transactions For 2 2015-Built Vlgcs And Sale Of Its 2008-Built Vlgc Captain Nicholas Ml
03/24/22, 4:15 PM
Location
Dorian LPG Ltd. (NYSE: LPG) (the "Company" or "Dorian LPG"), a leading owner and operator of modern and ECO very large gas carriers ("VLGCs"), today announced that on March 18, 2022, it completed two $70 million sale and bareboat charter arrangements with the same counterparty for its 2015-built VLGCs Cratis and Copernicus. The Japanese financing transactions resulted in cash proceeds totaling $100 million, of which $50.6 million was used to prepay a portion of the 2015 AR Facility (as defined in the Company's most recently filed Form 10-Q), and the balance of which will be used for general corporate purposes. Each Japanese financing has a nine (9) year term with purchase options beginning on March 18, 2025, amortizes principal of $340,000 per month, and carries a fixed interest rate of 4.1%.
Company Info
Location
stamford, connecticut, united states
Additional Info
Dorian is a leading owner and operator of 22 modern and ECO very large gas carriers ("VLGCs") and has offices in Stamford, Connecticut, USA; Copenhagen, Denmark; and Athens, Greece.
Visit our website at www.dorianlpg.com. Information on the Company's website does not constitute a part of and is not incorporated by reference into this press release.
For further information:
Dorian LPG Ltd. Ted Young Chief Financial Officer (203) 674-9900 IR@dorianlpg.com
Source: Dorian LPG Ltd.
SOURCE Dorian LPG Ltd.