China Construction Bank signs $174.3 million sale-leaseback agreement with Teekay LNG Partners L.P. for LNG carrier newbuilding
Commitment amount
$ 200852540.76875573
Adjusted commitment amount
$ 200852540.77
Constant 2021 USD
Summary
Funding agency [Type]
China Construction Bank Corporation (CCB) [State-owned Commercial Bank]
Recipient
Marshall Islands
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On April 21, 2017, China Construction Bank (CCB) signed a USD $174.3 million sale-leaseback agreement with Teekay LNG Partners L.P., a company incorporated under the laws of the Republic of The Marshall Islands. The agreement was for one of Teekay LNG Partners' wholly-owned LNG carrier newbuildings, scheduled to be delivered in late 2017. According to the agreement, on this date, China Construction Bank will take delivery and charter the vessel back to the Teekay LNG Partnership, and at the end of the 10-year tenor of this lease, Teekay LNG Partners has an obligation to repurchase the vessel from China Construction Bank.
Number of official sources
5
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
Teekay LNG Partners L.P. [Private Sector]
Loan Details
Maturity
10 years