Core Viewpoint - Navigator Holdings Ltd. has secured a senior secured pre- and post-delivery term loan of up to $133.77 million to finance the construction of two new liquefied ethylene gas carriers, marking a significant step in its newbuilding program and fleet renewal efforts [1][2][4]. Financial Details - The loan will cover up to 65% of the pre-delivery and delivery instalments to Jiangnan Shipyard and China Shipbuilding Trading Co., Ltd. for the construction of the new vessels, with the remaining costs funded from the company's cash resources [2]. - The Facility Agreement has a post-delivery tenor of five years, secured by mortgages over the new vessels, with interest set at SOFR plus 1.50% [3]. Company Overview - Navigator Holdings Ltd. operates the world's largest fleet of handysize liquefied gas carriers, specializing in the transportation of petrochemical gases, including ethylene, ethane, liquefied petroleum gas (LPG), and ammonia [5]. - The company owns a 50% stake in an ethylene export marine terminal in Texas and has a fleet of 55 semi- or fully-refrigerated liquefied gas carriers, enhancing its role in the liquefied gas supply chain [5].