4 Dec 2023
Cadeler secures capital to fund offshore wind vessel construction and upgrade
Topics: Cadeler, F-class vessel, funding, green loan facility, HSBC, Wind Farm Installation Vessel, Wind Orca, Wind Osprey, X-class vessel
Cadeler has entered into an unsecured green loan facility with HSBC bank to, among others, fund Cadeler’s construction of the X-class and F-class newbuild vessels and upgrade of the existing O-class vessels with new cranes.
Cadeler entered into an unsecured green term loan facility (the “Green loan Facility”) in an aggregate amount of EUR 50 million (tenor of up to five years). This underlines Cadeler’s strategic market position.
Mikkel Gleerup, CEO of Cadeler said: “With Cadeler’s strategic position in the market, we are well placed to meet the increasing global demands and to execute the largest and most complex offshore wind installation projects.”.
Christina Ma, head of Global Banking Asia Pacific, HSBC said: “This green loan showcases HSBC’s ability to arrange tailored solutions for clients. We’re pleased to partner with Cadeler as the Sole Mandated Lead Arranger, Green Loan Coordinator, and Facility Agent.”
Cadeler is currently upgrading their O-class vessels Wind Orca and Wind Osprey with new cranes in Rotterdam.
Cadeler is currently building two X-class as well as an F-class vessel, which are set to be delivered from H2/2024 onwards. The new F-class vessel is expected to be delivered in the second half of 2026. All vessels will be built by COSCO Heavy Industries in Qidong, China, and will sail under Danish flag. Source/Image: Cadeler
