The Norwegian offshore wind company Havfram has yesterday signed a Senior Secured Green ECA Term Loan Facility (Facility) to fund its two newbuild Wind Turbine Installation Vessels (WTIVs), currently under construction at the Chinese shipbuilder CIMC Raffles in Yantai.
The Facility was entered into with a syndicate led by DNB Bank ASA (Coordinator, Bookrunner, Green Loan Advisor and Agent) with SpareBank 1 SR-Bank ASA, Credit Agricole, Sparebanken Vest and Rabobank as Mandated Lead Arrangers and with Export Finance Norway as ECA lender.
Furthermore, the Facility is also partly supported by an insurance provided by Atradius Dutch State Business N.V, the ECA of the Netherlands.
Havfram provides offshore wind installation expertise to the global market as an owner and operator of wind turbine installation vessels (WTIVs), with the majority of the company owned by Sandbrook Capital, a leading climate fund led by an experienced team determined to combine consistent financial returns and real climate impact.
