Cadeler has signed an Export and Investment Fund of Denmark (EIFO)-backed senior secured green term loan facility of €247 million to finance in part the construction of its third A-class newbuild offshore wind installation vessel, Wind Apex, with delivery expected in 2Q27.
The 12-year facility is supported by EIFO and has been designated as green financing under Cadeler’s Green Finance Framework.
The Hongkong and Shanghai Banking Corp. Ltd, Singapore Branch, acted as Co-ordinator, Mandated Lead Arranger, Facility Agent, Security Agent, and EIFO Agent. The lending syndicate comprises HSBC, KfW IPEX-Bank, Coöperatieve Rabobank U.A., and DNB Bank ASA.
Mikkel Gleerup, CEO of Cadeler, commented: “We are pleased to have secured this financing for Wind Apex together with a strong group of international banking partners. We greatly value our longstanding relationship with EIFO and appreciate their continued support for Cadeler’s growth. Their backing, together with that of our lending partners, reflects continued confidence in Cadeler and our ability to deliver the offshore wind installation capacity our customers need.”
Peter Boeskov, COO at EIFO Large Corporates, added: “Strengthening Danish companies and supply chains in the energy transition is a strategic priority for EIFO. Cadeler exemplifies how quickly Danish expertise can scale globally, now operating the world’s largest installation fleet for offshore wind. With this third transaction, we reaffirm our long-term commitment to supporting Cadeler’s continued growth.”
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