China Development Bankâs Vehicles to Purchase, Lease Back Four LNG Vessels

MT Newswires Live06-20

China Development Bank Financial Leasing's (CDB) (HKG:1606) four special purpose vehicles have agreed to purchase four LNG vessels from four companies for a maximum of $477.5 million, unchanged from the appraised value of the assets, and lease them to the four companies, a Thursday filing with the Hong Kong Exchange said.

The four companies (lessees) mentioned above are Pegasus Shipholding S.A, Lance Shipping S.A, Seacrown Maritime, and Fareastern Shipping.

The term of the lease is set between 60 to 120 months and the lease principal agreed upon is not expected to exceed $477.5 million with the total interest for the lease period expected to be around $130.0 million.

The lessees may buy back the vessels at the end of the lease term for a maximum amount of $95.5 million in nominal value.

The company's shares were down over 1% in recent trade.

Price (HKD): $2.27, Change: $-0.03, Percent Change: -1.30%

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China Development Bankâs Vehicles to Purchase, Lease Back Four LNG Vessels

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China Development Bankâs Vehicles to Purchase, Lease Back Four LNG Vessels