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Emanuele Lauro-led offshore wind vessels player Eneti has executed a senior secured green term loan facility of up to $436m with a group of international banks and export credit agencies.
The credit facility finances around 65% of the purchase cost of the company’s two newbuild NG-16000X series wind turbine installation vessels (WTIV) named Nessie and Siren.
It includes a commercial tranche of up to $130.8m, a direct tranche from the Export-Import Bank of Korea of up to $115m, a guaranteed tranche from Eksportfinansiering Norge of up to $45m, and a covered tranche from Korea Trade Insurance Corporation of up to $145.2m.
The lenders to the commercial tranche, Eksfin guaranteed tranche and K-SURE covered tranche are Credit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial, New York Branch, KfW IPEX-Bank, Société Générale, and The Korea Development Bank.
The maturity date of the credit facility for each vessel is 12 years from the delivery date of each vessel – Nessie is supposed to be delivered in 2024 while Siren will be delivered in 2025. It bears interest at a blended margin of SOFR plus 2.36% per annum.
The Monaco-based company also informed that it delivered the Seajacks Hydra and Seajacks Leviathan vessels to its new owners. Along with the delivery of the Seajacks Kraken in October 2023, the company has completed the sale of its NG2500X vessels. The three vessels were sold to an undisclosed unaffiliated buyer for $70m in August this year. |
