NIBC closed an add-on financing for Aurora LPG
Nieuws -NIBC Shipping & Intermodal acted as lead arranger in a USD 45 million add-on of the existing USD 75 million senior secured credit facility for the gas carrier company Aurora LPG Holding. This add-on facility will be used to finance the 2009 built very large gas carrier (VLGC) m/v Prospect for Aurora LPG.
Aurora LPG Holding is a listed company, active in the LPG market. The company now has a fleet of three VLGC’s and is well positioned to take advantage of the profitable VLGC trade. The company aims to further grow the business by acquiring further second hand vessels and has firm orders for four VLGC’s to be delivered in 2016. The transaction further diversifies NIBC’s exposure in the LPG segment.