OREANDA-NEWS. August 07, 2014. CNOOC Energy Technology & Service, Teekay LNG Partners, China LNG Shipping (Holdings) Limited and BW Gas have raised USD 787m to part finance the four LNG carriers.

The 174,000 cu m vessels are to be built by Hudong-Zhonghua and will be long-term chartered to BG as part of its shipping fleet.

Australia and New Zealand Banking Group (ANZ) and The Export-Import Bank of China (China Exim) acted as joint financial advisors, to the four companies and charter BG. The financing comprises 50% export credit agency financing from China Exim and 50% commercial loans with a tenor of 17 years.

Mandated lead arrangers for the financing are ANZ, Bank of America Merrill Lynch, The Bank of Tokyo-Mitsubishi UFJ Ltd, China Exim, Mizuho Bank Ltd, Sumitomo Mitsui Banking Corporation and Industrial and Commercial Bank of China.