SBM Offshore has secured a US$250 million term loan facility, according to the company's release.
The facility will be fully drawn in the coming days to finance Floating Production, Storage and Offloading vessel (FPSO) construction activities.
The tenor of the bridge loan is twelve months with an extension option for another six months. Repayment is expected from first drawdown of the construction financing of FPSO Jaguar.
SBM Offshore designs, builds, installs and operates offshore floating facilities for the offshore energy industry.