Seatrium Secures S$500 Million in Revolving Credit Facility with Singapore’s Leading Financial Institutions

Singapore, December 29, 2023 -- Seatrium Limited (Seatrium, or the Group) is pleased to announce that its wholly-owned subsidiary, Seatrium Financial Services Pte. Ltd. (SFS) has secured a S$500 million committed revolving credit loan facility (RCF) arranged by DBS Bank Limited, The Hongkong and Shanghai Banking Corporation Limited (HSBC) and Standard Chartered Bank (Singapore) Limited. 

The RCF will provide additional funding and liquidity to Seatrium, increasing its financial flexibility. Seatrium acted as the guarantor for SFS and HSBC was the loan facility agent.

Mr Paul Tan, Acting Group Finance Director, Seatrium said, “As part of the Group’s proactive capital management, the S$500 million committed revolver will support our business operations and other strategic business needs. Securing the revolving credit facility not only bears testament to Seatrium’s financial strength and business outlook, but also reflects the strong support from top financial institutions for the growth of the offshore, marine and energy industries in Singapore. We would like to express our appreciation to our relationship banks for their unwavering support and trust.” 

Mr Lim Wee Seng, Group Head of Energy, Renewables and Infrastructure, Institutional Banking Group, DBS Bank, said, “DBS Bank is pleased to be part of this inaugural club loan to provide Seatrium with funding for strategic growth and new opportunities. 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.”

Mr Lim Jit Min, Managing Director and Head of Large Local Corporates, Global Banking, HSBC Singapore, said, “HSBC has a longstanding relationship with Seatrium. 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.”

Mr Freddy Ong, Head of Client Coverage, Singapore, Corporate, Commercial and Institutional Banking, 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 this latest RCF, Seatrium has secured green trade finance and sustainability-linked facilities exceeding S$2 billion to augment its sustainability efforts and green investments in the offshore renewables space. 

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About Seatrium Limited 

Seatrium Limited (formerly Sembcorp Marine Ltd and renamed as Seatrium Limited following its combination with Keppel Offshore & Marine Limited) provides innovative engineering solutions to the global offshore, marine and energy industries. Headquartered in Singapore, the Group has over 60 years of track record in the design and construction of rigs, floaters, offshore platforms and specialised vessels, as well as in the repair, upgrading and conversion of different ship types.

The Group’s key business segments include Oil & Gas Newbuilds and Conversions, Renewables and New Energies, Specialised Shipbuilding, and Repairs & Upgrades, with a growing focus on sustainable solutions to advance the global energy transition and maritime decarbonisation.

As a premier global player offering offshore renewables, new energy, and cleaner offshore & marine solutions, Seatrium is committed to delivering high standards of safety, quality, and performance to its customers which include major energy companies, vessel owners and operators, shipping companies and cruise and ferry operators.

Seatrium operates shipyards and other facilities in Singapore, Brazil, China, Indonesia, Japan, the Philippines, Norway, the United Kingdom and the United States.

Discover more at seatrium.com.

For more information, please contact:

Ms Judy Tan
Head, Investor Relations and Corporate Communications
Tel No: +65 9710 9784
Email: [email protected]

Ms Clarissa Ho
Senior Manager, Investor Relations and Corporate Communications
Tel No: +65 9632 1253
Email: [email protected]

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