Navigator Gas in $220 million loan agreement

NOVEMBER 1, 2016 — Wilbur Ross backed LPG carrier specialists Navigator Gas L.L.C. and Navigator Holdings Ltd. have entered into a secured facility agreement with ABN-AMRO, DVB Bank, Skandinaviska Enskilda Banken (“SEB”) and Nordea Bank that makes available up to $220,000,000 to refinance two existing loan facilities that are due to mature in April 2017 and to provide delivery financing of up to a maximum of 70% of the fair market value of the company’s final newbuilding, Navigator Jorf.

The facility agreement consists of a term loan facility, revolving credit facility and newbuilding term loan facility related to the partial financing of the delivery of the Navigator Jorf.

The facility agreement matures in seven years, bears interest at an annual rate of U.S. LIBOR plus a margin of 2.6% and will be secured by ten of the company’s vessels.