Norton Rose Fulbright advises DNB Bank on bridge facilities for Cadeler
Published by Abby Butler,
Editorial Assistant
Energy Global,
Global law firm, Norton Rose Fulbright, has advised DNB Bank on bridge facilities for Cadeler A/S, which will fund its strategic acquisition of the Boqiang 3060 – a newly constructed jack-up wind turbine installation vessel – from Shanghai Boqiang Heavy Industry Group Co., Ltd.
The facilities include a number of unique features, providing for both pre-delivery and post-delivery financing elements, and had to be documented within a very short timeframe to ensure the transaction’s success.
The purchase forms part of Cadeler’s ongoing fleet expansion and will further enhance its capacity to meet an increasing global demand for offshore wind turbine operations and maintenance services.
The vessel, which will be renamed Wind Keeper, was completed in 2024 and is expected to be delivered to Cadeler in 3Q25. It has been fitted with advanced European equipment, making it uniquely suited for the global offshore operations and maintenance market.
The Norton Rose Fulbright team advising on this facility was led by EMEA Co-Head of Asset Finance, Yianni Cheilas, with support from Counsel, Nicholas Papadopoulos, Senior Associate, Alexi Remoundos, and Associate, Jenny Arkadi. The team was also supported by Finance Partner, Neha Khosla, and Counsel, James Tong, along with Associate, Jack Zheng, on related finance aspects.
Norton Rose Fulbright similarly advised DNB Bank and related bank syndicates on two syndicated green financing and partially ECA-backed facilities, totalling €1.075 billion, for Cadeler in 2023. It also advised Société Générale, along with a syndicate of banks, in relation to two green loan facilities for Cadeler in late 2024.
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Read the article online at: https://www.energyglobal.com/wind/28052025/norton-rose-fulbright-advises-dnb-bank-on-bridge-facilities-for-cadeler/
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