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% 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.
Read the latest issue of Oilfield Technology in full for free: Issue 3 2021
Oilfield Technology’s third issue of 2021 starts with a report from Wood Mackenzie focusing on the upstream industry’s fortunes in Asia-Pacific. The rest of the issue is dedicated to features covering offshore engineering, coiled tubing, frac technology, completion technologies, water management, well placement and much more.
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Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/24092021/sbm-offshore-completes-bridge-loan-for-fpso-almirante-tamandar/
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