Flex LNG Strengthens Financial Position with Successful Vessel Refinancing

The latest announcement is out from FLEX LNG ( (FLNG) ).

Flex LNG has successfully completed a $175 million JOLCO lease financing for its vessel, Flex Courageous, as part of its Balance Sheet Optimization Program 3.0. This refinancing extends the debt maturity to 2035, reduces the cost of debt by approximately 1.5% per annum, and generates net proceeds of $42 million. The company plans to refinance two more vessels, Flex Resolute and Flex Constellation, in the latter half of 2025, expecting to release a total of $120 million in net proceeds. These efforts aim to strengthen Flex LNG’s financial position, supported by a substantial charter backlog and a strong cash balance of $410 million at the end of Q1-2025.

The most recent analyst rating on (FLNG) stock is a Buy with a $320.00 price target. To see the full list of analyst forecasts on FLEX LNG stock, see the FLNG Stock Forecast page.

More about FLEX LNG

Flex LNG is a shipping company specializing in the transportation of Liquefied Natural Gas (LNG). The company operates a fleet of thirteen modern LNG carriers equipped with advanced two-stroke propulsion systems, enhancing fuel efficiency and reducing carbon emissions compared to older vessel technologies. Flex LNG is publicly traded on both the New York Stock Exchange and Oslo Stock Exchange.

Average Trading Volume: 406,459

Technical Sentiment Signal: Strong Buy

Current Market Cap: $1.27B

For an in-depth examination of FLNG stock, go to TipRanks’ Stock Analysis page.