Sale Leaseback Transaction of the VLGC Iris Glory Successfully Executed

Source: www.gulfoilandgas.com 12/21/2021, Location: South America

Avance Gas Holding Ltd ("AGAS") is pleased to announce the successful completion of the $41.65 million sale and leaseback transaction with a Japanese lessor previously announced in October 2021. The financing has a 9-year tenor with an implied 22-year age adjusted repayment profile and no repurchase obligation. Following repayment of debt, the transaction generated approximately $16.6 million in net cash proceeds.


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