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Singapore LNG in $855m refinancing

Article-Singapore LNG in $855m refinancing

Singapore LNG in $855m refinancing
Singapore LNG Corp (SLNG) has refinanced SGD1.11bn ($855m) in loans with a term facility from five banks.

The facility is with Citibank, DBS Bank, Mizuho Bank, Oversea-Chinese Banking Corporation and The Bank of Tokyo-Mitsubishi UFJ, with Societe Generale Corporate & Investment Banking acting as advisor to SLNG.

The proceeds from the facility will be used to refinance some of the loans extended by the Singapore government during in the initial and construction phases of Singapore LNG Terminal.

“Beyond just prudent financial management, this significant external borrowing represents another important step in the development of SLNG as a commercial entity and reflects the growing confidence in the marketplace that the LNG industry in Singapore has a promising future ahead of it,” John Ng, ceo of SLNG, said.

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