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SBM Offshore Loan for FPSO Almirante Tamandaré

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SBM Offshore has secured a $635 million bridge loan facility for the financing of the construction of FPSO Almirante Tamandaré.

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 45 percent of the equity ownership to partners continue to progress.

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 12 months with an extension option for another 6 months. Repayment is expected to take place upon closure and first drawdown of the project loan.

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