SBM Offshore NV is pleased to announce that it has successfully completed the refinancing and expansion of its existing revolving credit facility of US$ 500 million to a new US$ 750 million facility. The targeted syndication to a select group of banks found very strong interest and led to a substantial oversubscription.
The facility represents the Company’s core source of corporate bank financing and will be used principally to finance the construction phase of projects as well as for general corporate purposes. The facility has a five-year tenor with margin over Libor derived from a leverage grid.
The following financial institutions participate in the syndicate:
Bookrunning Mandated Lead Arrangers BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ, Fortis Bank N.V. (Documentation Agent), ING Bank NV (Facility Agent), Mizuho Corporate Bank (Coordinator) and Rabobank.
Mandated Lead Arrangers Crédit Agricole CIB, Lloyds TSB Bank, Natixis, The Royal Bank of Scotland N.V. and Société Générale.
Lead Arrangers BBVA, NIBC Bank N.V. and Sumitomo Mitsui Banking Corporation Europe.