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.
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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/