Edda Wind has entered into a green term loan facility agreement for the pre- and post-delivery financing of the four commissioning service operation vessels under construction at Vard.
The agreement is a EUR161m ($177m) green loan facility with Crédit Agricole, Danske Bank, DNB Bank and SpareBank, with expiry in 2029 and a profile of 12 years. The facility corresponds to a leverage ratio of 60% of the ready for sea cost of the vessels.
“Following this agreement, 13 of the 14 vessels in our fleet have secured long term financing and we expect to finalise the debt financing of the remaining vessel in 2024 once we have reached relevant yard milestones,” said Kenneth Walland, CEO of Edda Wind.
