Sovcomflot has secured a new $297m loan facility from a consortium of major banks, with which it plans to finance two newbuildings.
ING Bank, KfW IPEX-Bank and Credit Agricole Corporate and Investment Bank have provided the funds, which will go towards pre- and post-delivery financing for two of Sovcomflot's Atlanticmax LNG carriers.
The 174,000-cbm gas ships will be employed on long-term charters to Shell following their respective deliveries in 2020 and 2021 from Hyundai Samho Heavy Industries.
"With the conclusion of this deal, the group has addressed in full its capital expenditure funding requirements for the next two years," said Nikolay Kolesnikov, Sovcomflot's executive vice-president and chief financial officer.
The new financing follows the $149m credit facility the Russian state tanker owner signed with the three banks in November last year.
The loan will finance the construction of another Atlanticmax LNG carrier, which is set to commence a long-term charter to Total.
In February, Russia's Prime Minister Dmitry Medvedev said compatriot lender VEB Group is to finance the construction of three MR tankers for Sovcomflot.
