SBM Offshore wraps $1.75 billion project financing for One Guyana

Chicago, July 21 – SBM Offshore NV completed the $1.75 billion of project financing for the floating production storage and offloading unit One Guyana, according to a press release.

The financing was secured by a consortium of 15 international banks.

The company expects to draw the loan in full, phased over the construction period of the project.

The financing will become non-recourse once the project is completed and the pre-completion guarantee has been released.

The project loan is in line with the duration of the charter and has a two-year tenor post-completion and carries a variable interest rate based on SOFR plus 220 basis points.

SBM Offshore is based in Amsterdam and provides floating production solutions to the offshore energy industry.

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