With reference to the press release datedDecember 4, 2023 ,Awilco LNG ASA (the Company) is pleased to announce that the documentation for the refinancing of the Company's two 2013-built 156,000 cbm TFDE LNG carriers WilForce and WilPride has today been signed. The sale/leaseback facility is provided byChina Development Bank Financial Leasing Co. Ltd. (CDB Leasing ), a leading leasing house inChina . The new facility will enable a full take out of the Company's current sale/leaseback facilities. The facility bears a longer amortisation profile and a longer tenor than the current facility and the floating interest rate structure has a lower margin all of which substantially reduces the Company's running cost and cash break-even level. The Company will expense remaining capitalized expenses related to the previous financing in the first quarter of 2024. This is compensated by theUSD 10,000 per day per vessel reduction in cash break-even with the new financing. The facility is expected to close on delivery of the vessels to CDBL late second or early third quarter 2024 depending on customary closing conditions. Jon Skule Storheill, CEO ofAwilco LNG ASA , stated: "We are pleased to mark the start of our long-term relationship withCDB Leasing with this transaction and are at the same time pleased to see our finance cost improve and support the Company's commercial strategy." For further information please contact: Jon Skule Storheill Chief Executive Officer Mobile: +47 913 443 56 Per Heiberg Chief Financial Officer Mobile: +47 952 20 264
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