Transactions
NorthCape approached Golar LNG in September 2013 about financing their LNG vessels under construction in Korea.
In November 2013 Golar LNG announced that it had received an estimated USD 800 mill. financing commitment from ICBC Financial Leasing Co. Ltd. («ICBCL») through a sale and leaseback transaction for four of the remaining five unfinanced newbuildings.
The financing structure would fund 90% of the purchase price of each vessel and bareboat chartered to Golar LNG for a firm period of 10 years.
The lease is not reliant on long-term charters being in place.
Under the leasing structure, the Golar LNG has options to purchase the vessels after the fifth anniversary of the financing.
The final documentation was signed in February 2014 and the first vessel was delivered and funded in November 2014.
In 2018 NorthCape advised Norwegian Air Shuttle with the financing of four Boeing 737 aircraft to be delivered during 2018 and 2019. The financing was structured as a long term sale and leaseback with a major Chinese Leasing house. Furthermore, during the lease Norwegian has options to purchase the aircraft. The final documentation was signed in December 2018 and the first aircraft was delivered the same month.
On behalf of our client, NorthCape is pleased to announce the successful closing of a ~90 % pre- and post-delivery financing for a new build Methanol MR Tanker delivering Q3 2021.
The transaction is structured as a sale and leaseback, with a 15 years bareboat contract and a 15 year back-to back time-charter to a large industrial corporation. The cost of capital is competitive, and the bareboat charterer has purchase options commencing 7 years after delivery. The transaction was started and successfully concluded under strict travel restrictions world-wide, due to the COVID-19 pandemic, without any face-to-face meetings.
Thanks to our strong relationship with trading-house Sojitz Marine & Engineering Corp., banks and ship-owners in Japan, together with a reputable and a transparent client, we managed collectively and constructively to deal with the challenges currently facing the international financial markets.
NorthCape approached Golar LNG in September 2013 about financing their LNG vessels under construction in Korea.
In November 2013 Golar LNG announced that it had received an estimated USD 800 mill. financing commitment from ICBC Financial Leasing Co. Ltd. («ICBCL») through a sale and leaseback transaction for four of the remaining five unfinanced newbuildings.
The financing structure would fund 90% of the purchase price of each vessel and bareboat chartered to Golar LNG for a firm period of 10 years.
The lease is not reliant on long-term charters being in place.
Under the leasing structure, the Golar LNG has options to purchase the vessels after the fifth anniversary of the financing.
The final documentation was signed in February 2014 and the first vessel was delivered and funded in November 2014.
In July 2021, NorthCape assisted a client with the financing of 3 x large offshore wind service operation vessels (“SOV”).
The first SOV was delivered Q4 2021 directly into a multi-year time charter with a leading European renewable energy company. The SOV’s are hybrid-electric vessels that offers best-in-class environmental performance, and is zero emissions ready with future larger battery/charging and fuel cell options. A leading Norwegian ship owner and manager will provide technical and commercial services for the vessels.
These environmentally-advanced SOV’s are well aligned with NorthCape’s ambitions to contribute to de-carbonise the maritime industry.
LARGE SCALE LNG PROJECT
Year: 2015
Seller/Charterer: Large corporate
Total value of assets: ~USD 1,200 mill.
Structure: Pre- and post delivery financing
8 X PRODUCT TANKERS
Year: 2015
Seller/Charterer: Large corporate
Total value of assets: ~USD 400 mill.
Structure: Sale and leaseback
4 X HANDYSIZE CONTAINER VESSELS
Year: 2015
Seller/Charterer: Large corporate
Total value of assets: ~USD 130 mill.
Structure: Sale and leaseback
1 X LNG
2024
Sale and Leaseback
Total value of Assets: USD ~141 mil.
2 X LNG
2024
Sale and Leaseback
Total value of Assets: USD ~307 mil.
1 X LNG
2024
Sale and Leaseback
Total value of the Asset: USD~70 mil
2 X Tankers
2024
Sale and Leaseback & Sale and Purchase
Total value of Assets: USD ~28 mil.
4 X Containers
2024
Sale and Leaseback
Total value of Assets: USD ~120 mil.
4 X Tankers
2023
Debt
Total value of Assets: USD ~112 mil.
1 x MR TANKER
2023
Sale and Leaseback
Total value of Assets: USD ~24 mil.
1 x DRY BULK VESSEL
2023
Sale and Leaseback
Total value of Assets: USD ~27 mil.
1 x MULTIPURPOSE OFFSHORE VESSEL
2023
Sale and Leaseback
Total value of Assets: USD ~38 mil.
1 x LR2 TANKER
2023
Sale and Leaseback
Total value of Assets: USD ~70 mil.
4 x PCTC
2022
Sale and Leaseback
Total value of Assets: USD~400m
2 x PCTC
2022
Sale and Leaseback
Total value of Assets: USD ~96m
2 x REEFER VESSELS
2021/2022
Sale and Leaseback
Total value of Assets: USD ~40m
23 x DRY BULK VESSELS
2022
Loan
Total value of Assets: ~EUR 60m
3 x CHEMICAL TANKERS
2022
Sale and Leaseback
Total value of Assets: ~USD 30m
4 X MR PRODUCT TANKERS
2021/22
Sale and leaseback
Total value of Assets: ~USD 70 mill.
1 X LNG VESSEL
2022
Sale and leaseback
Total value of Assets: ~USD 200 mill.
2 x PRODUCT TANKERS
2021
JOLCO
Total value of Asset: ~USD 56 mill.
3x SOV
2021
Financing
Total value of Assets: ~USD 150 mil.
2 x MULTIPURPOSE VESSELS
2021
Sale and leaseback
Total value of Asset: ~USD 5.5 mill.
6 x CHEMICAL TANKERS
2021
Sale and leaseback
Total value of Assets: ~USD 190 mill.
3 x CHEMICAL TANKERS
2021
Sale and leaseback
Total value of Asset: ~USD 56 mill.
13 x REEFER VESSELS
2020
Operating Lease
Total value of Assets: ~USD 56 mill.
2 x LR2 TANKERS
2020
Debt Financing
Total value of Assets: ~USD 54 mill.
1 x MR TANKER
2020
Debt Financing
Total value of Asset: USD 12 mill.
1 x METHANOL MR TANKER
2020
Sale and leaseback
Total value of Asset: USD 42 mill.
2 x LR2 TANKERS
2020
Sale and leaseback
Total value of Assets: ~USD 92 mill.
1 X DRY BULK VESSEL
2020
Debt Financing
Total value of Asset: ~USD 33 mill.
2 X CRUISE VESSELS
2019
Sale and leaseback
Total value of Assets: ~USD 790 mill.
2 X LNG VESSELS
2019
Sale and leaseback
Total value of Assets: ~USD 350 mill.
1 X CRUISE VESSEL
2019
Sale and leaseback
Total value of Asset: ~USD 130 mill.
3 X CONTAINER VESSELS
2019
Operating Lease
Total value of Assets: ~USD 41 mill.
2 x EXPEDITION CRUISE VESSELS
2019
Sale and leaseback
Total value of Assets: ~ USD 620 mill.
1 X CRUISE VESSEL
2019
Sale and leaseback
Total value of Asset: ~USD 850 mill.
27 x A320 NEO AIRCRAFT
2019
S&P and joint venture agreement
Total value of Assets: ~ USD 1,500 mill.
4 X CONTAINER VESSELS
2019
Sale and leaseback
Total value of Assets: ~USD 150 mill.
5 x 737-800 AIRCRAFT
2019
S&P
Total value of Assets: ~ USD 165 mill.
1 X FSRU
2019
Sale and leaseback
Total value of Assets: ~USD 280 mill.
2 X A320 NEO AIRCRAFT
2019
S&P
Total value of Assets: ~USD 100 mill.
4 X CHEMICAL TANKERS
2019
Sale and leaseback
Total value of Assets: ~USD 125 mill.
4 X 737 MAX AIRCRAFT
2018
Sale and leaseback
Total value of Assets: ~USD 200 mill.
2 X CRUISE VESSELS
2018
Sale and leaseback
Total value of Assets: ~USD 850 mill.
4 X MR TANKERS
2018
Operating lease
Total value of Assets: ~USD 145 mill.
2 X 737 – 800 AIRCRAFT
2018
S&P
Total value of Assets: ~USD 60 mill.
4 X VLCCs
2018
Sale and leaseback
Total value of Assets: ~USD 340 mill.
1 X CRUISE VESSELS
2018
Sale and leaseback
Total value of Assets: ~USD 400 mill.
4 X LR2 TANKERS
2018
Sale and leaseback
Total value of Assets: ~USD 170 mill.
2 X LNG CARRIERS
2017
Sale and leaseback
Total value of Assets: ~USD 400 mill.
2 X FSRU
2017
Sale and leaseback
Total value of Assets: ~USD 500 mill.
2 X LNG CARRIERS
2017
Sale and leaseback
Total value of Assets: ~USD 400 mill.
4 X LR2 TANKERS
2017
Sale and leaseback
Total value of Assets: ~USD 165 mill.
2 X CRUISE VESSELS
2017
Sale and leaseback
Total value of Assets: ~USD 700 mill.
LARGE SCALE LNG PROJECT
2016
Sale and leaseback
Total value of Assets: ~USD 1,600 mill.
LNG CARRIER
2016
Sale and leaseback
Total value of Assets: ~USD 200 mill.
4 X MR TANKERS
2016
Sale and leaseback
Total value of Assets: ~USD 150 mill.
CRUISE VESSELS
2016
Sale and leaseback
Total value of Assets: ~USD 350 mill.
3 X LR2 TANKERS
2016
Sale and leaseback
Total value of Assets: ~USD 150 mill.
LARGE SCALE LNG PROJECT
2015
Pre- and Post- Delivery financing
Total value of Assets: ~USD 1,200 mill.
2 X FSRU VESSELS
2015
Sale and leaseback
Total value of Assets: ~USD 590 mill.
2 X FSRU VESSELS
2015
Sale and leaseback
Total value of Assets: ~USD 590 mill.
2 X SEMI-SUBM. DRILLING RIGS
2014
~USD 250 mill. Junior loan
Total value of Assets: ~USD 1,300 mill.
4 X LNG CARRIERS
2014
Sale and leaseback
Total value of Assets: ~USD 800 mill.
4 X LNG CARRIERS
2014
Sale and leaseback
Total value of Assets: ~USD 800 mill.
