Navigator Gas signs USD 121.8 million loan to finance two ammonia carriers in Amon JV
NVGS•Loan terms and delivery schedule
The facility has a six-year post-delivery tenor with interest at SOFR + 1.35%, payable quarterly, and is secured by mortgages over the newbuild vessels.
Deliveries are expected in May 2028 and September 2028. The obligations are guaranteed by Navigator Holdings and Navigator Amon Shipping.
Senior secured loan for two ammonia carriers
Navigator Holdings subsidiaries in the Navigator Amon venture signed a senior secured post-delivery term loan for up to USD 121.8 million.
The facility will finance delivery of two 51,350-cubic-meter ammonia-fueled liquefied ammonia carriers, also capable of carrying LPG, under construction in China.
The loan will cover up to 70% of vessel costs at delivery; the remaining pre-delivery and balance will be funded from the borrowers’ cash resources via shareholders.
