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FLEX LNG announced on November 11, 2026, that it had signed a $145.5 million sale-and-leaseback financing agreement for its 173,400-cubic-meter LNG carrier Flex Enterprise. Under the agreement with an Asian leasing provider, the 2018-built vessel will be sold to the lessor and chartered back to FLEX LNG on a bareboat basis for approximately six years, with an option to repurchase it at a predetermined price. The company expects the transaction to release approximately $34 million in net cash proceeds after repaying its existing vessel financing. Closing is anticipated in the fourth quarter of 2026, subject to final documentation and customary conditions.
One LNG Carrier. $145.5 Million in Financing. $34 Million in New Liquidity.
A proposed bareboat sale-and-leaseback replaces an existing vessel loan with a new six-year leasing structure while preserving FLEX LNG's use of the ship.
Agreed vessel sale consideration
Subject to closing and loan repayment
Bareboat charterback to FLEX LNG
With a predetermined repurchase option
The old loan balance is from September 30, while the net cash proceeds are management's estimate for a future closing.
Gross amount under the signed sale-and-leaseback agreement.
September 30 debt carrying balance, net of issuance costs, under the $150M facility.
Cash the company expects to retain after refinancing and closing.
FLEX LNG's November 11 investor slide identifies these amounts within the total $145.5M structure.
Approximately 44.2% of the transaction. The investor presentation describes a fixed-interest element associated with this financing component.
Approximately 55.8% of the transaction. The floating component references Term SOFR, subject to contractual terms and any applicable hedging.
Reported carrying value of the existing Flex Enterprise facility.
Company announces the new $145.5M financing agreement.
Old loan is expected to be repaid; net proceeds released if conditions are satisfied.
$34 Million Now. A New Obligation in 2032.
A sale-and-leaseback can release cash immediately while retaining the vessel's earnings potential. But repayment schedules, purchase options and floating-rate exposure still determine the long-term economics.
The table distinguishes actual contract terms, management estimates and information not supplied by the announcements.
One concerns the vessel's financing. The other concerns revenue under its present commercial employment agreement.
The existing Flex Enterprise loan is to be refinanced and replaced with a new financing maturity in approximately 2032.
The current fleet table lists the firm's commercial charter ending around this time. Financing beyond this date is not matched by publicly confirmed additional charter employment.
The October amendment affects Flex Artemis and Flex Amber under their existing $330M sale-and-leaseback facility, not the new Flex Enterprise agreement.
A reduction of 75 basis points in the stated financing margin.
Approximately $0.8M less principal paid each quarter on the two-ship facility.
The revised schedule lowers periodic payments but increases end-of-lease purchase-option amounts.
The investor chart shows a future maturity amount, but the full option schedule is not disclosed.
The company has group-level swaps, but the exact hedge allocation to the new bank-funded portion is not stated.
Payment dates and allocations to financing versus principal are needed for a cash-flow forecast.
Future charter hire and utilization will affect the ability to carry financing obligations through 2032.
The company has dividend commitments and liquidity needs, but the $34M refinancing proceeds have not been assigned to a specific new project or distribution.
Sale-and-Leaseback: How Much Cash Does the Owner Really Unlock?
Model gross financing, existing debt payoff, floating-rate sensitivity, future principal repayments and the remaining debt exposure at lease maturity. Advanced mode adds vessel earnings and cash debt-service coverage.
All financing amounts are in USD millions unless otherwise indicated. Values are editable for other vessels and transactions.
Additional assumptions for the vessel-level business case. The default TCE and OPEX are FLEX LNG fleetwide benchmarks, not specific Flex Enterprise charter terms.
Gross financing received at assumed closing.
Old financing retired under the scenario.
Liquidity remaining after entered costs and payoff.
Annual straight-line principal reduction is a simplifying assumption. The published age-adjusted repayment profile does not establish a straight-line contractual amortization schedule.
Gross proceeds less old debt and entered transaction expenses.
First-year opening balance multiplied by reference blended rate.
Illustrative annual cash debt service, excluding other lease obligations.
Model-generated residual, not a contractual buyback quote.
Declining-balance calculation at a constant illustrative rate.
Based on the unhedged floating funding component only.
Term SOFR reference plus entered blended spread.
Requires an assumed old-loan interest rate.
Requires earning days, charter rate, operating costs and overhead.
The modeled refinancing releases cash at closing but leaves repayment and future maturity obligations.
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