By Adnan Bajic Norwegian LNG transportation provider Awilco LNG has agreed to an amendment to the financial covenants in the sale/leaseback facilities for the WilForce and the WilPride.
Courtesy of Awilco LNG
Under the agreement with CCB Financial Leasing the required minimum consolidated cash and cash equivalents financial covenant of $10.0 million has been reduced to $2.0 million.
The required consolidated positive working capital financial covenant has been waived, originally from July 1, 2020, to December 31, 2020, and now extended for a further six-month period, from January 1, 2021, to June 30, 2021, Awilcom LNG said in a statement on Monday.
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