Fred. Olsen enters green loans for jack-up trio
Fred. Olsen Windcarrier has entered into two new long-term non-recourse debt financing arrangements related to the Brave Tern, Bold Tern and Blue Tern jack-up vessels under its indirect ownership.
In conjunction with the financing, the company established a green loan framework with an eligibility assessment from DNV GL, which enables new investments to be financed with green loans.
The amount will refinance the existing debt facility and further contribute to the financing of the crane upgrade on Brave Tern.
A tranche of approximately EUR 29 million of this facility will be covered by the green loan framework.
For Blue Tern, 51% owned, the current financing with NIBC and Clifford, of which approximately EUR 31 million is outstanding, has been extended by circa 2.5 years, and now matures end 2022.