CDB Leasing seals sale and leaseback for Procopiou's LNG carrier trio

China Development Bank Financial Leasing (CDB Leasing) has announced a sale and leaseback deal with Greek shipowner George Procopiou for three LNG carriers under construction in South Korea.

The Hong Kong-listed leasing unit of China Development Bank is picking up the 200,000 cum vessels from three special purpose vehicles of Procopiou family-controlled Pure Energy Limited in a deal worth up to $596.5m.

Vessels are currently scheduled for delivery from Hyundai Heavy Industries in November 2023, December 2023 and February 2024, respectively.

The lease deal is for ten years, and Procopiou’s companies have an option to buy back the ships at a consideration of less than $99.42m after the deal expires.

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