December 15, 2023
SBM Offshore is pleased to announce that it has secured a US$210 million Revolving Credit Facility (RCF) for the financing of the construction of Fast4Ward® Multi-Purpose Floater (MPF) hulls. The tenor of the RCF is eighteen months with an extension option for another six months. Repayment is expected to take place upon sale of the MPF hulls or upon drawdown of the relevant project loan.
Under the Company’s industry leading Fast4Ward® program, eight standardized MPF hulls have been ordered to date with seven allocated to projects and one supporting tendering activities.
Douglas Wood, CFO of SBM Offshore, commented:
“The successful closing of this facility supports our Fast4Ward® strategy to fast-track FPSO projects and make them more competitive by providing targeted financing for the construction of MPF hulls at a competitive rate.”
Corporate Profile
SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry. As a leading technology provider, we put our marine expertise at the service of a responsible energy transition by reducing emissions from fossil fuel production, while developing cleaner solutions for renewable energy sources.
More than 7,000 SBMers worldwide are committed to sharing their experience to deliver safe, sustainable and affordable energy from the oceans for generations to come.
For further information, please visit our website at www.sbmoffshore.com.
Financial Calendar | Date | Year | |
Full Year 2023 Earnings | February 29 | 2024 | |
Annual General Meeting | April 12 | 2024 | |
First Quarter 2024 Trading Update | May 8 | 2024 | |
Half Year 2024 Earnings | August 8 | 2024 | |
Third Quarter 2024 Trading Update | November 14 | 2024 |
For further information, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
Mobile: | +31 (0) 6 23 34 37 64 |
E-mail: | wouter.holties@sbmoffshore.com |
Website: | www.sbmoffshore.com |
Media Relations
Evelyn Tachau Brown
Group Communications & Change Director
Mobile: | +377 (0) 6 40 62 30 34 |
E-mail: | evelyn.tachau-brown@sbmoffshore.com |
Website: | www.sbmoffshore.com |
Market Abuse Regulation
This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Disclaimer
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. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Risk Management’ section of the 2022 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore 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 new information, subsequent events or otherwise.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore®", the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “Float4Wind®” are proprietary marks owned by SBM Offshore.
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