Dorian LPG Ltd. (“Dorian LPG” or the “Company”) was informed by Korea Export Import Bank (“KEXIM”) and the Korea Trade Insurance Corporation (“K-sure”) that each has posted or intends to post the following information on its respective website:
- KEXIM and K-sure will jointly support the financing of 18 VLGCs for Dorian LPG Ltd.
- Total vessel purchase price: USD 1,360MM
- Financing Amount: USD750MM
- Agency Support: KEXIM UD400MM (USD205MM Direct, USD195MM Guarantee), K-sure 100MM
Dorian LPG expects such financing to be completed during the first calendar quarter of 2015. Such financing remains subject to execution of binding documentation.
Forward-Looking Statements
This announcement contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's belief regarding future results, many of which, by their nature are inherently uncertain and outside of the Company's control. Actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company's Annual Report on Form 20-F, under the heading "Risk Factors." The Company does not assume any obligation to update the information contained in this announcement.