Eneti lines up $175 million five-year senior secured green term loan

By Wendy Van Sickle

Columbus, Ohio, Feb. 15 – Eneti Inc. received commitments from DNB Capital LLC, Societe Generale, Citibank NA, Credit Agricole CIB and Credit Industriel et Commercial for a $175 million five-year senior secured green term loan credit facility, according to a news release.

The credit facility bears interest at an applicable benchmark plus 305 basis points to 315 bps and may be partially drawn in euros. It is subject to some conditions and is expected to close within the second quarter of 2022.

Additionally, the company said it repaid $17.7 million of redeemable notes due March 2022 in December and $87.65 million of 8% subordinated debt due September 2022 in February.

Based in Monaco, Eneti is focused on the offshore wind and marine-based renewable energy industry and has invested in the next generation of wind turbine installation vessels. The company was previously named Scorpio Bulkers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.