Loan & DebtJun 18, 2026, 08:42 AM
Navigator Gas Secures $205.8M JOLCO Financing for 2 Newbuild Vessels
AI Summary
Navigator Holdings Ltd. announced that its subsidiaries have secured financing for the construction and delivery of two newbuild gas carriers, expected in 2027. The financing includes a secured pre-delivery term loan of up to $164.64 million from BNP Paribas, which will transition into a $205.8 million long-term Japanese Operating Lease with Call Option (JOLCO) upon vessel delivery. This marks Navigator Gas's first use of a JOLCO structure, covering the full purchase price with competitive pricing, and completes funding for four of its six newbuild vessels on order.
Key Highlights
- Secured $205.8 million long-term JOLCO financing for two newbuild gas carriers.
- Entered into a pre-delivery term loan of up to $164.64 million with BNP Paribas.
- Bridge Facility will finance up to 80% of pre-delivery installments.
- Vessels are currently under construction in China and expected for delivery in 2027.
- JOLCO covers the full purchase price of the vessels with competitive pricing.
- Navigator Gas retains full operational responsibility and benefits from purchase options up to 8.5 years after delivery.
- This financing completes funding for four of the six newbuild vessels on order.
Price Impact
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