Dorian LPG Ltd., a leading owner and operator of modern and ECO very large gas carriers ("VLGCs"), today announced the closing of two significant debt financing transactions, underscoring its ability to source attractively priced and structured capital in the current challenging environment.

As part of a refinancing of the $758 million debt financing facility that the Company entered into in March 2015 (the "2015 Facility"), Credit Agricole Corporate Investment Bank ("Credit Agricole") and Skandinaviska Enskilda Banken AB (publ) ("SEB") became new lenders to the Company and served as Bookrunners.  ABN AMRO Capital USA ("ABN") served as Administrative Agent and Sustainability Coordinator and, together with ING Bank N.V., London Branch ("ING"), as Joint Syndication Agents.  Citibank N.A., London Branch ("Citi") served as ECA Agent.
John Hadjipateras, Chairman and CEO of Dorian LPG Ltd., said, "Against the backdrop of volatile credit markets, we completed two important transactions that lowered our LIBOR margins and improved terms.  In addition, the inclusion of a mechanism that ties improvements in our Average Efficiency Ratio to additional interest margin reductions allows us to further monetize investments we have made in making our VLGC fleet one of the most fuel-efficient in the world."
Ted Young, Chief Financial Officer and Treasurer of the Company, added, "Our core banks – ABN, Citi, and ING, all longstanding relationships for which we are very grateful – once again supported us, and we are very pleased to welcome Credit Agricole and SEB to our banking syndicate.  Both banks are world class players and have a demonstrated commitment to the shipping industry.  In addition, our long-term financing of the Cresques reflects the continued importance of a track record of safety and financial responsibility and the value of relationships in accessing financing sources in Japan."