zoom Monaco-headquartered owner and operator of liquefied natural gas (LNG) carriers GasLog Ltd. has launched a debt financing of USD 1.05 billion with a number of international banks to re-finance six legacy vessel facilities.The company said that the re-financing covers eight on-the-water vessels, which were delivered between 2010 and 2015.The vessels in question are the GasLog Savannah, GasLog Singapore, GasLog Chelsea, GasLog Skagen, GasLog Seattle, Solaris, GasLog Saratoga and GasLog Salem, which feature some 155,000 cbm.Namely, the debt financing covers re-financing of USD 960 million of bank debt across six legacy facilities.GasLog also said that the new financing includes a USD 100 million revolving credit facility creating additional liquidity and a tenor of 5 years which extends the maturity of the existing facilities to 2021.Furthermore, the re-financing “simplifies GasLog’s bank facilities and aligns the terms and covenants across our four facilities. The Legacy Facility Re-financing further extends GasLog’s maturities, strengthens the balance sheet and creates additional liquidity for the company as we look to pursue a number of interesting growth opportunities in the LNG carrier and FSRU sectors,” Simon Crowe, Chief Financial Officer, said.The company added that the re-financing, which is in line with GasLog’s existing facilities, is expected to close early in the second half of 2016.Following the completion of this financing, the shipowner will have four debt facilities in total.
the fund applies to eligible costs such as labour, goods or services purchased from a Nova Scotia-based supplier when an application is approved, NSBI issues a commitment letter which can be used for bank financing. When the applicant enters the official incentive agreement, the agreement can also be used for the financing process when the production is approved for a funding commitment, the funds are placed in reserve when the production is complete the applicant submits a final claim to NSBI for processing and disbursement all applications and claims are processed and approved by NSBI To learn more about the application process, eligible costs and guidelines, go to Nova Scotia Film and Television Production Incentive Fund at http://www.nsbi.ca . -30- Nova Scotia Business Inc. (NSBI) announced three newly approved productions through the Nova Scotia Film and Television Production Incentive Fund today, Feb. 19. Television Series, Swearnet Studios, produced by SN Series 1 Productions Inc., has been approved for a funding commitment of $356,616 based on an eligible Nova Scotia expenditure of $1,188,721. Television series, Hard Time, produced by Hard Time 1 Productions Inc., has been approved for a funding commitment of $403,204 based on an eligible Nova Scotia expenditure of $1,344,015. Television series, Ricky’s Kitchen, produced by RK1 Productions Inc., has been approved for a funding commitment of $449,820 based on eligible Nova Scotia expenditure of $1,499,402. More details about productions approved for incentives through the Nova Scotia Film and Television Production Incentive Fund are available on the NSBI website at http://www.nsbi.ca/filmfunding . Quick facts: