Exmar completes 2014 bond repayment

  • Jun 27, 2019
  • Brunei LNG

Belgium’s Exmar, the Nicolas Saverys-led shipowner, has completed the bond repayment issued in 2014, extended in July 2017 and maturing in July 2019.

This repayment has been funded partially with the new, unsecured NOK 650 million ($75 million) bond issued by Exmar on May 16, 2019, with final maturity in May 2022, and partially with own resources, the company said in its statement.

Earlier this month Exmar completed the performance acceptance tests on the Tango FLNG, formerly named Caribbean FLNG, offloading and exporting the first cargo from Argentina.

The floating LNG unit will produce LNG for export for the Argentinian energy company YPF over a 10-year period.

As far as YPF is concerned, the delivery of the first LNG cargo of about 25,000 cbm from the Vaca Muerta shale gas reserves marks the entry of Argentina to the select club of global LNG exporting nations.