VLGC owner and operator BW LPG has wrapped up two financing facilities totalling $595m, aimed at supporting its fleet expansion, refinancing existing debt, and boosting liquidity.
The dual-listed unit of Singapore’s BW Group closed a $380m term loan and revolving credit facility backed by seven banks. This deal helped finance the acquisition of vessels from Avance Gas, completed in late 2024, and allowed BW LPG to retire a $250m shareholder loan in June 2025 ahead of its maturity.
Separately, BW LPG India secured a $215m term loan to refinance earlier borrowings and fund the purchase of two VLGCs — BW Chinook and BW Pampero — from the parent company. These additions bring BW LPG India’s owned fleet to nine VLGCs.
The Indian loan was closed with improved terms compared to the previous facility, benefiting from reduced financing costs and interest withholding tax exemptions, BW LPG said. Five banks participated via their Gujarat International Finance Tec-City (GIFT) branches.
Both transactions were backed by a total of ten international and regional banks, including Citibank, DBS, DNB, ING, MUFG, Mizuho, SEB, Standard Chartered, OCBC, and the Development Bank of Japan.
