BW Offshore Secures USD 800 Mln Loan for Catcher FPSO

  • Business & Finance

BW Offshore has signed the facility documentation for the new USD 800 million ten year senior secured credit facility for the Catcher FPSO project.

BW-Offshore-Bags-Catcher-FPSO-Contract-from-Premier-Oil.

The facility is a combined construction and long term financing facility. The credit facility was substantially oversubscribed by a group of 13 leading international banks.

The Equity Ratio covenant (equity to total assets) in the Catcher facility is 25%, in line with BW Offshore’s three bond loans.

BW Offshore has also received consent from all lenders to amend the Equity Ratio covenant for the remaining bank loans from 30% to 25% in alignment with the Catcher facility. The other main covenants remain unchanged.

Related:

BW Offshore Bags Catcher FPSO Contract from Premier Oil

Press Release, August 05, 2014

 

Related news

List of related news articles