Dutch floater expert SBM Offshore has signed a $1.1bn unsecured revolving credit facility with a group of 13 international banks.
The loan will be used to refinance its existing $1bn facility, which was due to expire in February 2026.
The new credit facility has a tenor of five years and two one-year extension options, as well as an uncommitted option to increase the facility by an additional $500m.
According to the company, the loan can be used to finance general corporate purposes or as working capital during the construction of floating production solutions. Eligible green projects can be funded under a specific green tranche of $100m.
Earlier this week, SBM Offshore signed a sale and leaseback financing agreement for the FPSO Cidade de Paraty. The $400m deal included a tenor of eight years. The transaction is expected to be completed before the end of April 2025.
The Dutch firm and its partners will continue to operate and maintain the asset until the end of the initial charter and operate contracts for the remaining period of 8.5 years.
