Company: DLNG
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001104659-25-033744
Chunk: 267

Company: Dynagas LNG Partners LP
Filing Date: 2025-04-10
Form: 20-F
Item: Item 5
Chunk 267
---
 including the current portion of long-term debt. As of December 31, 2024, we had a working capital deficit of $5.7 million as compared to the working capital deficit of $353.5 million as of December 31, 2023. Our working capital deficit was mainly due to the current portion of our long-term debt and other financial liabilities.
We believe that our anticipated sources of funds, as mentioned above and those that we anticipate to internally generate for a period of at least the next twelve months, will be sufficient to fund the operations of our Fleet, and to meet our normal working capital requirements, service our principal and interest debt, and make at least the required distribution on our Series A Preferred Units and Series B Preferred Units in accordance with our Partnership Agreement.
Our Borrowing Activities
As of December 31, 2024, we had $322.9 million outstanding under the 2024 Lease Financing (discussed below). As of December 31, 2024, we were in compliance with all of the covenants, including the financial and liquidity covenants, contained in the 2024 Lease Financing.

99

$675 Million Credit Facility
On September 18, 2019, we entered into the $675 Million Credit Facility: a 5-year syndicated $675 million senior secured term loan with leading international banks for the purpose of refinancing the Partnership’s existing total indebtedness at that time. On June 27, 2024, we used the proceeds received under the 2024 Lease Financing (discussed below), together with $63.7 million of our own funds, to fully prepay outstanding amounts under the $675 Million Credit Facility, which was scheduled to mature on September 18, 2024. Please see below, “Item 5. Operating and Financial Review and Prospects—B. Liquidity and Capital Resources—2024 Lease Financing.”
2024 Lease Financing
On June 19, 2024, we entered into sale and leaseback agreements, or the Sale and Leaseback Agreements, with China Development Bank Financial Leasing Co. Ltd. (“CDBL”), for four of our vessels, the OB River, the Clean Energy, the Amur River, and the Arctic Aurora for the amounts of $71.2 million, $53.6 million, $73.1 million and $147.0 million, respectively. We sold and chartered back on a bareboat basis from CDBL, the OB River, the