Seatrium yard

SINGAPORE: Seatrium Limited secured a S$500 million revolving credit loan facility (RCF) through its wholly-owned subsidiary, Seatrium Financial Services Pte. Ltd. (SFS), on Dec 29. The announcement comes after Seatrium refinanced its loan facility with $400M from DBS on Dec 28.

The arrangement was facilitated by DBS Bank Limited, The Hong Kong and Shanghai Banking Corporation Limited (HSBC), and Standard Chartered Bank (Singapore) Limited. The RCF will give Seatrium financial flexibility and support its business operations and strategic needs. Seatrium acted as the guarantor for SFS, with HSBC serving as the loan facility agent.

Mr Paul Tan, Acting Group Finance Director at Seatrium, stated, “The S$500 million committed revolver will support our business operations and other strategic business needs.” Mr Tan emphasised that securing the credit facility demonstrates Seatrium’s financial strength and reflects strong support from financial institutions for the growth of offshore, marine, and energy industries in Singapore.

DBS Bank expressed pleasure in being part of the inaugural club loan. Mr Lim Wee Seng, Group Head of Energy, Renewables, and Infrastructure at DBS Bank, said, “As a leading financial institution in Asia, we are committed to helping companies compete on the global stage and strengthening Singapore’s position as a key hub for business.”

See also  Seatrium refinances loan facility with $400M from DBS

With a longstanding relationship with Seatrium, HSBC sees the new facility as supporting the company’s growth aspirations.

Mr Lim Jit Min, Managing Director and Head of Large Local Corporates, Global Banking at HSBC Singapore, noted, “We are pleased to play a role in supporting the company’s growth aspirations. This new facility will enable Seatrium to expand its business further, especially as opportunities in the area of energy transition gathers momentum.”

Standard Chartered Bank expressed delight in further strengthening its partnership with Seatrium. Mr Freddy Ong, Head of Client Coverage, Singapore, Corporate, Commercial, and Institutional Banking at Standard Chartered Bank (Singapore) Limited, said:

“We are delighted to further strengthen our longstanding partnership with Seatrium Group in their growth and expansion plans. With our extensive regional and global footprint, coupled with our innovative solutions, we are well placed to support Seatrium in their sustainable growth agenda.”

In addition to the S$500 million RCF, Seatrium has secured green trade finance and sustainability-linked facilities exceeding S$2 billion. These funds are designated for enhancing sustainability efforts and green investments, particularly in the offshore renewables sector. /TISG