Flex LNG finalize $430 MM in new financings
Flex LNG Ltd announced that the aggregate $430 MM of new financings announced in the Q2-2024 report have been completed according to plan with net proceeds of about $97 MM.
On September 24, 2024, the new $270 MM bank facility financing Flex Aurora and Flex Ranger was completed, and the previous $375 MM bank facility was repaid in full. Consequently, the Flex Endeavour was unencumbered at end of Q3-2024.
On October 3, 2024, the Company successfully closed the new $160 million JOLCO lease for Flex Endeavour at very attractive terms.
As announced in the Q2-2024 earnings presentation, Flex LNG had a cash balance of $370 MM on June 30, 2024, thus with the completion of these refinancings, the Company will add to an already substantial cash balance.
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