Coolco announces expansion of bank facility to fund recently announced lnge conversion upgrades

Increased debt capacity by $70 million and reduced margin of existing bank facility maturing in february 2027 incremental funds to finance previously announced lnge conversion of five lng carriers, including retrofitting with sub-coolers for lng boil-off reliquefaction cool company limited (nyse: clco / clco.ol “coolco” or the “company”) announces today that a syndicate of existing lenders in one of its bank facilities (the “senior secured sustainability linked amortizing term loan” or “facility”) has approved an increase in the debt amount of $70 million and has also agreed to reduce the facility's interest rate margin from 275 basis points to 225 basis points. the additional funding is expected to be drawn on june 30, 2023.
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