SBM Offshore completes US$600 million bridge loan for FPSO Sepetiba
July 1, 2020
SBM Offshore is pleased to announce the closure of a US$600 million bridge loan facility for the financing of the construction of FPSO Sepetiba.
The facility was secured by the special purpose company owning FPSO Sepetiba and was agreed with a consortium of four international banks. SBM Offshore is majority owner of this special purpose company (with 64.5% equity ownership), together with Mitsubishi Corporation (20%) and Nippon Yusen Kabushiki Kaisha (15.5%).
The facility will be drawn in July 2020 to finance the ongoing construction of the FPSO Sepetiba. The tenor of the bridge loan is six months with an extension option for another six months. The facility benefits from sponsor guarantees, which are to be released upon repayment. Repayment is expected to take place upon closure and first drawdown of the project loan which continues to progress. The facility’s weighted average interest margin is in line with the expected margin of SBM Offshore’s existing US$1 billion revolving credit facility for the second half of 2020.
Bert-Jaap Dijkstra, Group Treasurer of SBM Offshore, commented:
“The successful closure of this bridge facility demonstrates the robustness of our financing model as well as the strength of SBM Offshore’s long-standing relationships with our banks. As the facility is arranged at the level of the special purpose vehicle, it represents a financing tool which enables SBM Offshore and partners to optimize the financing of major projects. Further, this bridge facility improves SBM Offshore’s liquidity position at a competitive rate.”
The Company’s main activities are the design, supply, installation, operation and the life extension of floating production solutions for the offshore energy industry over the full lifecycle. The Company is market leading in leased floating production systems, with multiple units currently in operation.
As of December 31, 2019, the Company employs approximately 4,450 people worldwide spread over offices in our key markets, operational shore bases and the offshore fleet of vessels.
SBM Offshore N.V. is a listed holding company headquartered in Amsterdam, the Netherlands. It holds direct and indirect interests in other companies.
Where references are made to SBM Offshore N.V. and /or its subsidiaries in general, or where no useful purpose is served by identifying the particular company or companies “SBM Offshore” or “the Company” are sometimes used for convenience.
For further information, please visit our website at www.sbmoffshore.com.
The Management Board
Amsterdam, the Netherlands, July 1, 2020
|Half Year 2020 Earnings – Press Release||August 6||2020|
|Trading Update 3Q 2020 – Press Release||November 12||2020|
|Full Year 2020 Earnings – Press Release||February 11||2021|
|Annual General Meeting of Shareholders||April 7||2021|
|Trading Update 1Q 2021 – Press Release||May 12||2021|
For further information, please contact:
Group Treasurer and IR
|Telephone:||+31 (0) 20 236 3222|
|Mobile:||+31 (0) 6 21 14 10 17|
Group Communications Director
|Telephone:||+31 (0) 20 236 3170|
|Mobile:||+31 (0) 6 25 68 71 67|
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of the Company’s business to differ materially and adversely from the forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. SBM Offshore NV does not intend, and does not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances. Nothing in this press release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK MUNICIPAL BONDS18.9.2020 16:20:00 CEST | Press release
Sveriges Riksbank CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK MUNICIPAL BONDS Bid procedure on 22 September 2020, Municipalities and Regions Bonds: Floating-Rate Notes (FRN) issued in SEK by Municipalities or Regions with maturity in 2025. The following issuers are accepted for delivery: Göteborgs KommunJönköpings KommunMalmö KommunNorrköpings Kommun Skåne Läns LandstingStockholms KommunSundsvalls KommunTäby KommunUppsala KommunVästerås KommunÖrebro KommunÖstersunds Kommun Delivery may not be made in Bonds purchased by the Counterparty from the issuer less than one week prior to the date for announcing the Specific terms, i.e. the purchase may not have been made after 11 September 2020. Bids: Bids are made to tel 08-696 69 70 and confirmed in writing by a filled-in Bid form by e-mail to EOL@riksbank.se. Bid date: Tuesday 22 September 2020 Bid time: 1000-1100 hours (CEST) on the Bid date Requested volume: (corresponding nominal amount) SEK 750 +/- 750 million Highest permitted bid vol
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK GOVERNMENT BONDS18.9.2020 16:20:00 CEST | Press release
Sveriges Riksbank Bid procedure details Government Bonds, 2020-09-25 Maturity dateLoanISIN codeCouponVolume, SEK million2029-11-121061 SE00112819220.75 %1,000 +/- 2502032-06-01 1056 SE00045172902.25 %1,000 +/- 250 Settlement date 2020-09-29 Bids have to be entered by 10.00 on SEP 25, 2020 Highest permitted bid volume: 1 000 million in issue SGB 1061 and 1 000 SEK million in issue SGB 1056 Lowest permitted bid volume: 50 SEK million Bids only through counterparties approved by the Riksbank RESULT OF AUCTION WILL BE PUBLISHED NO LATER THAN 10.10 (CEST)ON SEP 25, 2020. For more information, please contact: Trading desk at the Riksbank + 46 8 696 6970 General and special terms and conditions can be retrieved at http://www.riksbank.se
CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS18.9.2020 16:20:00 CEST | Press release
Sveriges Riksbank Bid procedure details Covered Bonds, 2020-09-24 Maturity dateLoanISIN codeCouponVolume, SEK million2022-04-08 5531 SE00069912461.00 %1,000 +/- 5002022-12-21 575 SE00105465721.50 %1,000 +/- 500 2022-09-211586SE00031748384.50 %1,000 +/- 5002022-06-15191SE00075256541.00 %1,000 +/- 5002022-12-212212SE00102970851.00 %400 +/- 2502022-09-21515SE00072784292.25 %400 +/- 2502022-06-15143SE00085866551.25 %400 +/- 250 Settlement date 2020-09-28 Bids have to be entered by 10.00 on SEP 24, 2020 Highest permitted bid volume: 1,000 SEK million in issue 5531 1,000 SEK million in issue 575 1,000 SEK million in issue 1586 1,000 SEK million in issue 191 400 SEK million in issue 2212 400 SEK million in issue 515 400 SEK million in issue 143 Maximum volume 5 billion SEK in total Lowest permitted bid volume: 50 SEK million Bids only through counterparties approved by the Riksbank RESULT OF AUCTION WILL BE PUBLISHED NO LATER THAN 10.15 (CEST) ON SEP 24, 2020. For more information, please con
Karolinska Development’s portfolio company OssDsign strengthens patent coverage for OssDsign Cranial PSI in key market18.9.2020 16:04:55 CEST | Press release
STOCKHOLM, SWEDEN – September 18, 2020. Karolinska Development (Nasdaq Stockholm: KDEV) announces that its portfolio company OssDsign has received a notice of allowance from the United States Patent and Trademarks Office (USPTO) concerning the implant design for the company’s product Cranial PSI, thus strengthening the patent protection for the technology in the company’s most important market in the US. The patent covers the implant, its support structure, as well as the method of making customized implants for each patient. Approvals of the patent were given in the European and Japanese markets last year and in Australia earlier in 2020. With the allowance in the US, a stronger patent protection for OssDsign Cranial PSI is thus established in all key markets. The patent family is valid until 2035 and builds upon a broad international patent portfolio. “The notice of allowance granted by the USPTO is an important final step in securing the patent protection for the technology behind O
Karolinska Developments portföljbolag OssDsign stärker patentskyddet på huvudmarknad för OssDsign Cranial PSI18.9.2020 16:04:55 CEST | Pressemelding
STOCKHOLM, SVERIGE 18 september 2020. Karolinska Development AB (Nasdaq Stockholm: KDEV) meddelar idag att portföljbolaget OssDsign har givits ett godkännande av det amerikanska patentverket (USPTO) för ett patent relaterat till designen av bolagets produkt Cranial PSI. Genom godkännandet stärks patentskyddet för sin teknologi på bolagets viktigaste marknad USA. Patentet täcker implantatet, dess förstärkande struktur, samt metoden att tillverka ett patientspecifikt implantat. Bolaget erhöll patentskydd för produkten i Europa och Japan under föregående år och i Australien under början av 2020. Med godkännandet från den amerikanska myndigheten har nu bolaget etablerat ett starkt patentskydd för Cranial PSI på samtliga nyckelmarknader. Patentfamiljen, som är giltig till 2035, förstärker OssDsigns redan omfattande internationella patentskydd. ”Godkännandet från USPTO är ett viktigt sista steg för att säkerställa ett patentskydd för teknologin bakom OssDsigns Cranial PSI på alla viktiga mar
Notification according to Chapter 9, Section 10 of the Securities Markets Act of change in holdings in Enento Group’s shares18.9.2020 15:35:00 CEST | Press release
ENENTO GROUP PLC, STOCK EXCHANGE RELEASE 18 SEPTEMBER 2020 AT 4.30 P.M. EEST Notification according to Chapter 9, Section 10 of the Securities Markets Act of change in holdings in Enento Group’s shares Enento Group Plc (“Enento”) has on 18 September 2020 received an announcement under Chapter 9, Section 5 of the Securities Markets Act, according to which the holding of Swedbank AB has declined below the threshold of 5 percent on 18 September 2020. According to the notification, the holding of Swedbank AB in Enento is 0 percent of Enento’s entire share stock. Enento has one share series, each share entitling to one vote. The total number of Enento’s shares is 24,007,061 shares. Total position of Swedbank AB according to the notification: % of shares and voting rights (total of A)% of shares and voting rights through financial instruments (total of B)Total of both in % (A + B)Total number of shares and voting rights of issuerResulting situation on the date on which threshold was crossed