Financing update FLNG and VLGCís
Antwerp - 14/02/2020
FLNG Ė Financing Update
Referring to EXMARís communication of 23 January 2020, EXMAR announces today that the outbreak of the (Covid-19) Coronavirus in China causes further delays in fulfilling all the conditions precedent for the release by Bank of China of USD 40 million from the Debt Service Reserve Account (DSRA) under the TANGO FLNG loan facility.
These conditions precedent are merely administrative points that cannot be solved until the offices from the Chinese authorities officially re-open.
The developments in this file are closely followed and EXMAR will give further update within foreseeable future.
FSRU -Financing update
Under the ongoing arbitration procedureon the FSRU barge with Gunvor, the financing of the asset could not be completed at this stage of the procedure.
Meanwhile EXMAR obtained further extension of its bridge loans until end ofFebruary and of certain other capital expenditureuntil mid-March.
EXMAR press release