SBM Offshore N.V.
amsterdam : SBMO

August 03, 2012 02:10 ET

FPSO Cidade de Ilhabela - US$ 1.05 Billion Loan Facility - Financial close

SCHIEDAM, THE NETHERLANDS--(Marketwire - Aug 3, 2012) - SBM Offshore N.V. is pleased to announce that together with its Joint Venture partners, QGOG Constellation and Mitsubishi Corporation, a Limited Recourse Project Loan has been secured for US$ 1.05 billion to finance the construction of the FPSO Cidade de Ilhabela. The Facility has been designed to allow acceding Banks to join the transaction up to a maximum amount of US$ 1.2 billion on a pari passu basis.

The loan will be repaid over a 10 year period starting at First Oil expected in September 2014 and benefit from a competitive pricing package arranged on a Club Deal basis with reputable International Commercial Banks.

"We are delighted to have closed this loan facility for a record 1.05 billion US$ with our partners for this very large FPSO for Petrobras. We are very grateful for such strong support from our lenders in the current difficult environment in the banking market. This arrangement confirms the financing capacity available for good projects and supports our strategic focus to develop our core FPSO business." Bruno Chabas, CEO of SBM.

To see the complete version of this press release, please click on the link below.

SBM Offshore Press Release:

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: SBM Offshore N.V. via Thomson Reuters ONE [HUG#1631629]

Contact Information

  • For further information, please contact:
    Sebastiaan de Ronde Bresser
    Telephone: (+377) 92 05 85 15
    Mobile: (+33) 643 919 312
    E-mail: Email Contact