BW LPG closed two key financing facilities, a $380 million term loan and revolving credit facility and a $215 million term loan facility. These facilities enable BW LPG to finance the finalized acquisition of Avance Gas fleet last year, refinance existing debt and support the fleet renewal of its Indian subsidiary as well as improve BW LPG’s overall funding cost and liquidity profile.
The term loan and revolving credit facility were supported by seven of the company’s banking partners, with its proceeds used to finance vessels acquired from Avance Gas, which was completed at the end of 2024. With the closing of this facility, BW LPG terminated its shareholder loan of $250 million in June 2025 ahead of its expiry.
In parallel, BW LPG India has secured a $215 million term loan facility to refinance its existing debt and to support the acquisition of two modern VLGCs, BW Chinook and BW Pampero, from BW LPG, as previously announced. This facility supports BW LPG India’s continuous fleet renewal plan amid the sustained growth of India’s LPG demand. Following the acquisition of these two VLGCs, BW LPG India will own nine VLGCs.
“We are pleased to have successfully closed these key financing arrangements with enhanced terms and strong participation from both new and existing bank partners,” Kristian Sorensen, CEO of BW LPG, said. “This reaffirms the robust and ongoing support of our global banking network, and enhances our liquidity through dynamic markets ahead of us. We extend sincere gratitude to our partner banks across both facilities for their unwavering support to BW LPG.”
The facilities drew support across ten banks including Citibank, DBS Bank, Development Bank of Japan, DNB Bank ASA, Mizuho Bank, MUFG Bank, OCBC, Skandinaviska Enskilda Banken and Standard Chartered.
