Navigator Holdings enters into new $160.8m loan facility

The facility agreement consists of a term loan facility in the sum of $100m and a revolving credit facility for $60.8m for the borrower Navigator Gas, with obligations under the agreement guaranteed by Navigator Holdings.

The owner and operator of handysize liquefied gas carriers said the funds would also go toward general corporate and working capital purposes.

The facility agreement will mature in six years, bears interest at an annual rate of US Libor plus a margin of 2.3% and will be secured by eight of the group’s vessels.

Navigator Gas’ fleet consists of 38 semi- or fully-refrigerated liquefied gas carriers including two newbuildings scheduled for delivery by end-October 2017.