I’m not sure if this is good news or bad news. They don’t expect the refinancing to have better terms than the current debt. Therefore, if that is true, it will have a negative impact on unitholders.

Höegh LNG Partners LP (HMLP) announced that it has entered into an agreement with its lenders to defer the maturity date of the commercial tranche of its PGN FSRU Lampung debt facility (the “Lampung Facility”) to allow for more time to conclude a refinancing of this tranche.

The lenders have agreed to defer the maturity date of the commercial tranche from September 29, 2021 until January 14, 2022. Subject to commitment letters and a term sheet for a refinancing of the commercial tranche being in place by December 29, 2021, the maturity date will automatically be further deferred to March 29, 2022.

The commercial tranche will continue to be amortized at its current rate and there will be a gradual step-up in the interest margin with up to 235 basis points increase. As a condition for the deferred maturity date, no shareholder loans may be repaid and no dividends may be paid to the Partnership by the subsidiary borrowing under the Lampung Facility, PT Hoegh LNG Lampung. As a consequence, no cash flow from the PGN FSRU Lampung will be available for the Partnership prior to the deferred maturity date. This limitation does not prohibit the Partnership from paying the current distributions to preferred and common unitholders.

Höegh LNG Partners LP Announces a Deferral of the Maturity Date of the Commercial Tranche of the PGN FSRU Lampung Debt Facility (yahoo.com)