FLEX LNG (FLNG) has released an update.
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FLEX LNG Ltd has successfully completed a total of $430 million in new financings, enhancing its financial position with a net proceeds of approximately $97 million and an increased cash balance from the previous quarter’s $370 million. The refinancing transactions included a $270 million bank facility and a $160 million JOLCO lease, which allowed for the repayment of a previous $375 million bank facility and the unencumbering of the Flex Endeavour. These strategic financial moves provide FLEX LNG with robust commercial and financial flexibility to continue its growth in the LNG shipping market.
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