MOL secures funds for LNG carrier business

MOL secures funds for LNG carrier businessImage courtesy of MOL

Mitsui O.S.K. Lines on Friday said it has secured a 100 billion Japanese Yen (approximately Us$987 million) hybrid loan as part of the restructuring of its financial base. 

The company said it will use the funds to invest in its growth and enhance the company’s earnings base to boost its business competitiveness, in addition to raising funds for vessel-related facilities, mainly in the LNG carrier and offshore businesses.

MOL noted that, as credit rating agencies are expected to recognize the Hybrid Loan as an equity credit characteristics similar to equity instruments, this allows MOL to effectively strengthen its financial position while avoiding equity dilution.

The hybrid loan matures on October 7, 2076, MOL said.

1 JPY = 0.00986951 USD

Share this article

Follow LNG World News

Posted on September 30, 2016 with tags .

Events>

<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018…

read more >

CWC Japan LNG & Gas Summit

The inaugural CWC Japan LNG & Gas Summit, with participation and support from METI, JERA, Tokyo Gas and IEEJ, is the dedicated platform for international suppliers…

read more >

Asia Pacific Maritime and Offshore Exhibition 2018

7 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia…

read more >

CWC 2nd Papua New Guinea Petroleum & Energy Summit

The 2nd CWC Papua New Guinea Petroleum and Energy Summit is held under the patronage of the Prime Minister of Papua New Guinea…

read more >