Qatar's Nakilat seeks $940m loan for ships-bankers
by This email address is being protected from spam bots, you need Javascript enabled to view it on Friday, 01 May 2009
Qatar Gas Transportation Co (Nakilat) is looking to secure a $940 million loan to back the acquisition of liquefied natural gas (LNG) carriers, two banking sources close to the deal said.
The financing is split between a conventional tranche and an Islamic tranche and will also include a subordinated tranche, one of the bankers told Reuters Loan Pricing Corp.
SMBC is acting as adviser for the conventional tranche, while BNP Paribas is adviser on the Islamic tranche.
The $940 million facility is the third phase of financing for Nakilat's $7.5bn acquisition of 25 LNG ships and will fund payments required between October 2009 and July 2010, the banker said.
The first phase was a $2.2bn financing arranged in December 2006, while the second phase was a $1.5bn facility agreed in July 2008.
LNG is natural gas cooled and shrunk to liquid for transport in specially designed ships. It is regasified at a terminal for transport ashore through pipeline. (Reuters)
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