Oslo, November 21st, 2023 – Today, Havfram has signed a Senior Secured Green ECA Term Loan Facility (the “Facility”) to fund its two Wind Turbine Installation Vessels (“WTIVs”), currently under construction at CIMC Raffles.
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. The Facility is also partly supported by an insurance provided by Atradius Dutch State Business N.V, the ECA of the Netherlands.
Bjørn Kristian Røed, CFO at Havfram stated: “We are pleased to secure financing for our two state-of-the-art Wind Turbine Installation Vessels. This facility, alongside the equity provided by our sponsors Sandbrook and PSP Investments, fully funds Havfram’s newbuilding programme with the support of leading maritime lenders and export credit agencies. Access and cooperation between equity and debt capital providers are key to success in providing the world with renewable energy. This facility is a shining example to this collaboration, and supports our work to harvest clean energy from offshore wind.”
About Havfram
Havfram is a pure play offshore wind company, providing a wide range of services across the offshore wind value chain. Leveraging deep offshore wind industry knowledge, together with decades of know-how from the Norwegian energy & marine sectors and essential experience in operating in harsh offshore environments, Havfram offers the highest standards and services to customers worldwide. Havfram provides offshore wind installation expertise to the global market as an owner and operator of Wind Turbine Installation Vessels (WTIVs). The company is majority owned by Sandbrook Capital, a leading climate fund led by an experienced team determined to combine consistent financial returns and real climate impact. Together we aim to lead the path towards clean energy.