Bermuda, 11 October 2021 - Avance Gas Holding Ltd (the "Company") is pleased to announce that the company has signed a term sheet for the refinancing of the VLGC Iris Glory (2008) by way of a sale leaseback transaction with a Japanese lessor. The $41.65 million refinancing bears an implied 22-year age adjusted repayment profile with a tenor of 9 years and will generate net cash proceeds of approximately $16.6 million. The transaction is subject to board and credit approval, normal documentation and closing procedures, and is expected to close in Q4 2021.
For further queries, please contact:
Randi Navdal Bekkelund, CFO
Tel: +47 22 00 48 29
Email: randi.navdal@avancegas.com
About Avance Gas:
Avance Gas operates in the global market for transportation of liquefied petroleum gas.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
