Edda Wind introduced it has entered right into a inexperienced time period mortgage facility settlement for the pre- and postdelivery financing of 4 new commissioning service operation vessels (CSOV) below development at Vard.
The settlement is a €161 million inexperienced mortgage facility with Crédit Agricole Company and Funding Financial institution, Danske Financial institution A/S, DNB Financial institution ASA and SpareBank 1 SR-Financial institution ASA, with expiry in 2029 and a profile of 12 years. The ability corresponds to a leverage ratio of 60% of the whole prepared for sea price of the vessels.
“We’re happy to safe one other engaging inexperienced mortgage facility for our newbuilding program. Edda Wind is grateful for the assist by a gaggle of first-class lenders with a dedication to the offshore wind trade, and happy that we’ve additional expanded our financial institution group getting ready us for the journey forward. Following this settlement, 13 of the 14 vessels in our fleet have secured long run financing and we count on to finalise the debt financing of the remaining vessel in 2024 as soon as we’ve reached related yard milestones. By this facility, Edda Wind has raised in extra of EUR 400 million in capital throughout 2023 for our newbuilding program” says Kenneth Walland, CEO of Edda Wind.
The primary two vessels are anticipated to be delivered in Q1 2025, the third in Q2 2025, and the fourth in Q1 2026.
