Navigator Holdings Ltd. – Completes Issuance of Senior Unsecured Bonds

Navigator Holdings Ltd. – Completes Issuance of Senior Unsecured Bonds

August 27, 2020 – Navigator Holdings Ltd. (NYSE: NVGS) has today successfully completed the issuance of USD 100 million principal amount of new senior unsecured bonds in the Nordic bond market. The bond was significantly oversubscribed. The new bonds will mature in September 2025 and have a fixed coupon of 8.00% per annum. The transaction is subject to customary closing conditions and settlement is expected to occur on September 10, 2020.

In connection with the issue, the Company has agreed to repurchase USD 47.5 million of its existing USD 100 million senior unsecured bond issue with ISIN NO 0010785959 and maturity date in February 2021 (‘NAVIG02’).

Navigator will exercise the call option in NAVIG02 to redeem the remaining portion NAVIG02 in full at 100.00% of par value plus accrued interest.

Nordea, Pareto Securities and Clarksons Platou Securities AS acted as Global Coordinators and Joint Lead Bookrunners; Credit Agricole Corporate and Investment Bank and SEB as Joint Lead Bookrunners; and ABN AMRO acted as Co-Manager.

About Us
Navigator Holdings Ltd. is the owner and operator of the world’s largest fleet of handysize liquefied gas carriers and a global leader in the seaborne transportation of petrochemical gases, such as ethylene and ethane, liquefied petroleum gas (“LPG”) and ammonia and owns a 50% share, through a joint venture in an ethylene export marine terminal at Morgan’s Point, Texas on the Houston Ship Channel, USA. Navigator’s fleet consists of 38 semi- or fully-refrigerated liquefied gas carriers, 14 of which are ethylene and ethane capable. The Company plays a vital role in the liquefied gas supply chain for energy companies, industrial consumers and commodity traders, with our sophisticated vessels providing an efficient and reliable ‘floating pipeline’ between the parties. We continue to build strong, long-term partnerships based on mutual trust, our depth of technical expertise and a modern versatile fleet.

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Investor Relations
10 Bressenden Place, London, SW1E 5DH. Tel: +44 (0)20 7340 4850