SBM OFFSHORE : FPSO ASENG FINANCING COMPLETED

Aseng Production Company Limited, a Joint-Venture incorporated between SBM Offshore and "GEPetrol, Compania Nacional de Petroleos de Guinea Ecuatorial" (GEPetrol), has successfully secured a US$ 602 million Project Debt facility in order to finance the investment in the lease of the FPSO Aseng to be operated offshore Equatorial Guinea for Noble Energy.
The facility is a combination of a Bank Loan of US$ 400 million and a GEPetrol Shareholder Loan of US$ 202 million under a 5 years tenor.
The Bank syndication is built on a Club Deal basis and is composed of the following eight banks: ING (Facility Agent), Rabobank (Documentation Agent), ABN-Amro (Security Agent), BTMU (Modeling Agent), BNPP, CIC, Natixis and SMBC.
Source: Press release