SBM Offshore completes US$635 million bridge loan for FPSO Almirante Tamandaré
SBM Offshore has secured a US$635 million bridge loan for the construction of FPSO Almirante Tamandaré. The loan, provided to the special purpose company owning the FPSO, will be fully drawn soon to support ongoing construction efforts. The loan has a twelve-month term with a possible six-month extension. Repayment is set to occur upon completion and initial drawdown from the project loan. Discussions for divesting 45% equity ownership to partners are ongoing, indicating strategic moves for future capital involvement.
- Secured a US$635 million bridge loan to fund FPSO Almirante Tamandaré construction.
- Ongoing discussions for divesting 45% equity ownership, potentially increasing capital and partnerships.
- None.
September 23, 2021
SBM Offshore is pleased to announce that it has secured a US
The facility was secured by the special purpose company which will own FPSO Almirante Tamandaré. 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 Almirante Tamandaré. 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, September 23, 2021
| Financial Calendar | Date | Year |
| Trading Update 3Q 2021 | November 11 | 2021 |
| Full Year 2021 Earnings | February 10 | 2022 |
| Annual General Meeting | April 6 | 2022 |
| Trading Update 1Q 2022 | May 12 | 2022 |
| Half Year 2022 Earnings | August 4 | 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 purpose of SBM Offshore's US$635 million bridge loan?
When will the bridge loan for FPSO Almirante Tamandaré be fully drawn?
What is the term of the US$635 million bridge loan secured by SBM Offshore?
Is SBM Offshore planning to divest any ownership in FPSO Almirante Tamandaré?
