DORIAN LPG LTD. (LPG): debt financing — Dorian LPG closes $240M amended debt facility with $50M revolver, maturing 2029

DORIAN LPG LTD.

Term loan of $240M original principal, $215M outstanding; revolving credit up to $50M; accordion up to $100M.
Interest at SOFR + 2.05–2.15% (+/− 0.05% sustainability adjustment); undrawn revolver accrues at 0.40% of margin.
Maturity August 4, 2029; secured by vessel mortgages, insurance assignments, and parent guarantee.
Key covenants: min liquidity greater of $27.5M or 5% of debt; net debt/cap ≤0.60; equity ≥$400M.
Lenders: Crédit Agricole, ING, SEB, BNP Paribas, Danish Ship Finance.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DORIAN LPG LTD. amended credit facility of term loan facility in an aggregate original principal amount of $240.0 million, of which $215,000,000 remains outstandin with Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Skandinaviska Enskilda Banken AB (publ), BNP Paribas, Danish Ship Finance A/S at SOFR plus a margin ranging between 2.05 and 2.15%, plus or minus a sustainabilit maturing August 4, 2029.

Instrument: credit facility
Principal: term loan facility in an aggregate original principal amount of $240.0 million, of which $215,000,000 remains outstandin
Counterparty: Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Skandinaviska Enskilda Banken AB (publ), BNP Paribas, Danish Ship Finance A/S
Rate: SOFR plus a margin ranging between 2.05 and 2.15%, plus or minus a sustainabilit
Maturity: August 4, 2029
Event: amendment

Exact text from the filing

Facility amended and restated the Company’s 2022 debt financing facility with the Lenders and consists of (i) a term loan facility in an aggregate original principal amount of $240.0 million, of which $215,000,000 remains outstanding on the date hereof, (ii) a revolving credit facility in an aggregate principal amount of up to $50.0 million and (iii) an uncommitted

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Source: SEC EDGAR

accession 0001596993-23-000071

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