Flex LNG says it finalized $430 million in new financings

Flex LNG Ltd ("Flex LNG") has announced that the aggregate $430 million of new financings announced in the Q2-2024 report have been completed according to plan with net proceeds of about $97 million.

On September 24, 2024, the new $270 million bank facility financing Flex Aurora and Flex Ranger was completed, and the previous $375 million bank facility was repaid in full. Consequently, the Flex Endeavour was unencumbered at end of Q3-2024.  

On October 3, 2024, the Company successfully closed the new $160 million JOLCO lease for Flex Endeavour at very attractive terms.

As announced in the Q2-2024 earnings presentation, Flex LNG had a cash balance of $370 million on June 30, 2024, thus with the completion of these refinancings, the Company will add to an already substantial cash balance.