debt
confidence high
sentiment neutral
materiality 0.60
Venture Global closes $1.5B senior secured vessel financing for nine LNG carriers
Venture Global, Inc.
- Aggregate principal up to $1.5B; maturity June 26, 2032; interest at Term SOFR + 2.00%.
- Proceeds to reimburse Venture Global LNG for prior payments on nine LNG carriers and for general corporate purposes.
- Facility secured by first-priority ship mortgages on the vessels and pledges over equity and charter assignments.
- Deutsche Bank and ING served as coordinating lead arrangers; ING as facility agent and security trustee.
- Covenants include minimum debt service coverage ratio and collateral maintenance test, tested quarterly/semi-annually.