Exmar receives cash collateral
Published by Callum O'Reilly,
Senior Editor
Hydrocarbon Engineering,
Exmar has announced that the Bank of China has released US$40 million from the debt service reserve account, under the loan facility for Tango FLNG.
The relaxation of the cash collateral follows the steady operational results of Tango FLNG since September 2019, under the 10-years’ charter with YPF S.A.
The funds will be partially allocated to the repayment of the bridge loans from Belfius and Nordea who assisted Exmar in this interim period and to cover Exmar’s capital commitments.
The unexpected delays in the release of the funds caused Exmar to continue to pay careful attention to the liquidity of the company. The receipt of this restricted cash together with other anticipated cashflows (i.e. the charter fees from the shipping and infrastructure assets), allows Exmar to cover its financial commitments budgeted for the year 2020.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/27022020/exmar-receives-cash-collateral/
You might also like
The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process
In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.
Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.
