SBM Offshore completes US$620 million bridge loan for FPSO Alexandre de Gusmão
SBM Offshore has secured a US$620 million bridge loan to finance the construction of the FPSO Alexandre de Gusmão, which will operate in Brazil's Mero field. The facility, arranged by a special purpose company, will be fully drawn shortly and has a 12-month term with a potential 6-month extension. SBM Offshore currently owns the entire company and is negotiating a 45% equity divestment to partners. The loan's repayment will occur upon project loan closure and initial drawdown.
- Secured a US$620 million bridge loan for FPSO Alexandre de Gusmão construction.
- Ongoing discussions for a 45% equity divestment to partners, indicating future investment interest.
- Dependence on the successful negotiation of equity divestment to partners.
- Risks associated with potential delays or issues during construction.
December 17, 2021
SBM Offshore is pleased to announce that it has secured a US
The FPSO Alexandre de Gusmão will be deployed at the Mero field in the Santos Basin offshore Brazil. Mero is a project under Libra Consortium responsibility, in which Petrobras is the operator with 40 percent and with the following partners: Shell Brasil with 20 percent, TotalEnergies with 20 percent, CNODC and CNOOC Limited with 10 percent each, together with Pré-sal Petróleo S.A. (PPSA) as manager of this contract.
The facility was secured by the special purpose company which will own FPSO Alexandre de Gusmão. Currently, SBM Offshore is the sole owner of this special purpose company. Discussions around the divestment of
The facility will be fully drawn in the coming days to finance the ongoing construction of the FPSO Alexandre de Gusmão. The tenor of the bridge loan is twelve months with an extension option for another six months. Repayment is expected to take place upon closure and first drawdown of the project loan.
Corporate Profile
The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation.
As of December 31, 2020, the Company employs approximately 4,570 people worldwide spread over offices in our key markets, operational shore bases and the offshore fleet of vessels.
SBM Offshore N.V. is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect interests in other companies.
Where references are made to SBM Offshore N.V. and /or its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies “SBM Offshore” or “the Company” are sometimes used for convenience.
For further information, please visit our website at www.sbmoffshore.com.
The Management Board
Amsterdam, the Netherlands, December 17, 2021
| Financial Calendar | Date | Year |
| Full Year 2021 Earnings | February 10 | 2022 |
| Annual General Meeting | April 6 | 2022 |
| First Quarter 2022 Trading Update | May 12 | 2022 |
| Half Year 2022 Earnings | August 4 | 2022 |
| Third Quarter 2022 Trading Update | November 10 | 2022 |
For further information, please contact:
Investor Relations
Bert-Jaap Dijkstra
Group Treasurer and IR
| Mobile: | +31 (0) 6 21 14 10 17 |
| E-mail: | bertjaap.dijkstra@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Vincent Kempkes
Group Communications Director
| Mobile: | +377 (0) 6 40 62 87 35 |
| E-mail: | vincent.kempkes@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Disclaimer
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company’s business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.
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FAQ
What is the amount of SBM Offshore's bridge loan?
Where will the FPSO Alexandre de Gusmão be deployed?
What is the term of the bridge loan secured by SBM Offshore?
What is SBM Offshore planning to do with the FPSO Alexandre de Gusmão?
What is the status of the equity divestment for FPSO Alexandre de Gusmão?
