George Procopiou-controlled Pure Energy has signed a $1.1bn sale-and-leaseback deal with China’s CMB Financial Leasing for five 200,000 cu m LNG carriers. The ships, under construction at HD Hyundai Heavy Industries, were ordered last year by another Procopiou vehicle, Dynagas. Long term charters have been fixed for all five ships.
Watson Farley & Williams partner Christoforos Bisbikos, who advised CMB Financial Leasing on the deal, commented: “This transaction is a testament of CMB Financial Leasing’s capacity to support its clients in capital intensive projects such as this one which involves the financing of very large LNG carriers.”
