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Subsequent Events
3 Months Ended
Mar. 31, 2023
Subsequent Events [Abstract]  
Subsequent events
23.
Subsequent events

Dividend Declaration

On May 9, 2023, the Company announced that our Board of Directors declared a cash dividend, with respect to the quarter ended March 31, 2023, of $0.025 per share of Class A Common Stock. The dividend is payable on June 8, 2023, to Class A Common Stockholders of record as of the close of business on May 24, 2023. EELP will make a corresponding distribution of $0.025 per interest to holders of Class B interests on the same date of the dividend payment.

FSRU Sequoia Purchase

In April 2023, Excelerate purchased the FSRU Sequoia for $265 million using $250 million borrowed through our Term Loan Facility together with cash on hand. Concurrently with the purchase, the Company entered into interest rate swaps for the same notional amount as the Term Loan Facility. The purpose of the swaps is to hedge our exposure to fluctuations in SOFR related to borrowings on the Term Loan Facility. The interest rate swaps have maturity, payment and reset dates that align with those of the Term Loan Facility.