Sovcomflot Secures 297 Million Credit Facility

Sovcomflot Secures 297 Million Credit Facility

  • Sovcomflot has announced signing a 297 mn credit facility, for up to 10 years, with ING Bank, KfW IPEX-Bank and Crédit Agricole Corporate and Investment Bank.

    According to the company, the funds will be used towards financing the construction of a new generation Atlanticmax LNG carriers, which will operate under long-term charters to Shell. The vessels are scheduled for delivery in the second half of 2020. So Sovcomflot will increase its fleet of liquefied gas carriers to 16 vessels according to its strategy of expanding long-term business with core clients.

    «We are pleased to expand our partnership with ING Bank, KfW IPEX-Bank and Crédit Agricole CIB. This deal is the second agreement signed between Sovcomflot and these three banks to finance the construction of LNG carriers», – said Senior Executive Vice-President and CFO of Sovcomflot Nikolay Kolesnikov.


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