Navigator Gas Announces Signing of $121.8 Million Financing for Two Newbuild Ammonia Carriers in Navigator Amon Joint Venture
LONDON, August 3, 2026 – Navigator Holdings Ltd. (“Navigator Gas” or the “Company”) (NYSE: NVGS), the owner and operator of the world’s largest fleet of handysize liquefied gas carriers, is pleased to announce that on July 31, 2026, subsidiaries of Navigator Amon Shipping AS, our joint venture with Amon Maritime, (the “Borrowers”), entered into a senior secured post-delivery term loan (the “Facility Agreement”) with ING Bank N.V., London Branch, Société Générale and Oversea-Chinese Banking Corporation Limited (together, the “Lenders”), to finance the delivery of two 51,350 cubic metre capacity ammonia fuelled liquefied ammonia carriers which will also be capable of carrying liquefied petroleum gas (the “Newbuild Vessels”), and which are currently under construction in China.
Pursuant to the Facility Agreement, the Lenders have agreed to make available to the Borrowers up to $121,800,000 to finance, at delivery, up to 70% of the cost of the two Newbuild Vessels under the shipbuilding contracts entered into in July 2025 with Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. Delivery of the two vessels are expected to occur in May 2028 and September 2028. All pre-delivery payments under the shipbuilding contracts and the remaining portion of the delivery instalments for the Newbuild Vessels will be funded from the cash resources of the Borrowers, which funding will be provided by the shareholders of Navigator Amon Shipping AS.
The Facility Agreement has a post-delivery tenor of six years, is secured by, among other things, mortgages over the Newbuild Vessels, and amounts outstanding will bear interest at SOFR plus 1.35%, payable quarterly. Obligations of the Borrowers under the Facility Agreement are guaranteed by the Company and Navigator Amon Shipping AS, and the Facility Agreement also contains certain conditions, covenants and events of default.
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