Milbank Advises Lenders on Energos Infrastructure’s Acquisition of Two Dynagas Floating Storage and Regasification Units

Milbank LLP represented the lenders in connection with the financing for the acquisition by Energos Infrastructure ("Energos"), an international marine LNG infrastructure company, majority-controlled by Apollo-managed funds and minority shareholder New Fortress Energy Inc., of two Floating Storage and Regasification Units (FSRUs) from affiliates of Dynagas. The two 174,000 m3 closed-loop FSRUs will be renamed Energos Force and Energos Power and will operate in Germany.

“We are thrilled to support the lenders in Energos’s acquisition of these key infrastructure assets, which will enhance energy security for Germany and help grow the Energos platform,” said Dan Bartfeld, chair of the firm’s Global Project, Energy and Infrastructure Finance Group.

“FSRUs are a critical component for building up dependable energy infrastructure globally,” added Global Project, Energy and Infrastructure Finance partner Munib Hussain. “The implementation of these FSRUs will help bolster Germany's energy independence, as well as bring cost-efficiencies and lower carbon power generation.”

The Milbank team was led by Mr. Bartfeld and Mr. Hussain and included special counsel Severine Losembe and Vicky May and associates Chrisangelina Lo, David Thomas and Travis Haltom.