Oslo-listed BW Offshore has secured a $200m financing package for its floating, production, storage and offloading vessel operating in UK waters.
Andreas Sohmen-Pao’s owner of six FPSOs said the three-and-a-half-year facility, has been used to refinance its existing senior loan for the Catcher unit.
The new loan is priced at a margin of 225 basis points above USD SOFR and is provided by a consortium of seven international banks.
The Cather FPSO operates for Harbour Energy in the UK central North Sea some 174 km from Aberdeen in water depths of around 90 metres. The Catcher area produces from 20 subsea wells tied back to the FPSO, which is under contract until 2025, with options until 2043.
