EPS seals refinancing deal for CoolCo LNG carriers

EPS said in a social media post that the deal was signed during the Posidonia event in Greece last week.

Following the integration of Cool Company (CoolCo) earlier this year, this refinancing exercise was undertaken to “align the financing structure with the broader group while strengthening our platform for future growth,” EPS said.

The transaction brought together a “strong syndicate of banking partners, reflecting the confidence and long-standing relationships that underpin our business,” it said

“A special thank you to all representatives from ING, DNB, Nordea, ABN AMRO Bank, Citi, KfW IPEX-Bank, Danske Bank, Sumitomo Mitsui Trust Bank, DBS Bank, Standard Chartered, and SpareBank 1 for their support and collaboration throughout the process,” EPS said.

CoolCo has nine TFDE LNG carriers and four modern 2-stroke LNG carriers.

EPS also ordered two 175,000-cbm LNG carriers at China’s Jiangnan Shipyard in January this year, its first LNG carrier order in China.

According to shipbuilding sources, EPS is expected to pay approximately $220-225 million per vessel.