To refinance some of the government loans used to fund the development and construction of the initial phases of the liquefied natural gas (LNG) terminal located on Jurong Island, Singapore LNG (SLNG) announced on Thursday that it has secured a S$1.11 billion term loan facility.
The lenders are Citibank, DBS, Mizuho, Oversea-Chinese Banking Corp and Bank of Tokyo-Mitsubishi UFJ. Societe Generale Corporate & Investment Banking acted as financial advisor to SLNG.
SLNG was incorporated by the Energy Market Authority in June 2009 to develop, build, own and operate Singapore’s first LNG Terminal on Jurong Island. The Terminal began commercial operations in May 2013.
SLNG Chief Executive Officer John Ng said in a statement on Thursday: “This significant external borrowing represents another important step in the development of SLNG as a commercial entity, and reflects the growing confidence in the marketplace that the LNG industry in Singapore has a promising future ahead of it.”
SNLG declined to provide details of the loan facility such as the interest rate and maturity.
Credits: Channel NewsAsia
