Qatar Gas Transport Company (Nakilat) is reportedly shopping the Asian lending markets for a syndicated loan of USD 1 bn, Bloomberg reports, citing an unnamed source. Japan-based Mizuho Bank was reportedly tapped as lead arranger and bookrunner of the loan, which includes a “greenshoe” option that could add USD 330 mn to the loan value, the source said. The funds are earmarked for general corporate purposes.

What we know: The loan will have a five-year tenor and is expected to be priced at 82 basis points — or 0.82% — above the Secured Overnight Financing Rate, the US Treasury-collateralized benchmark that reflects the cost of borrowing overnight.

All about expansions: Nakilat currently boasts a fleet of 71 vessels, with at least 41 newvessels on its orderbook. Last month, the firm inked an initial financing agreement package with Export-Import Bank of Korea (Kexim) to back an order of 25 conventional Korean-built LNG vessels. QatarEnergy will charter the new vessels to support its expanding long-term LNG supply agreements.

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