Cadeler announces signing of EUR 550 million Green Loan and Guarantee Facilities

Today, Cadeler A/S (OSE: CADLR) (“Cadeler”) announced the signing of the previously-announced EUR 550m Senior Secured Green Loan Facilities (the “Facilities”) with a group of banks led by DNB and supported by Rabobank, Credit Agricole, Danske Bank, Oversea-Chinese Banking Corporation (OCBC), Standard Chartered Bank and Societe Generale. The purpose of the Facilities is to refinance existing vessels in Cadeler and Eneti Inc. ahead of the contemplated business combination between the two companies as previously announced , to finance crane upgrades of Cadeler’s two existing vessels and to fund general corporate and working capital purposes.

The Facilities are made up of two RCFs amounting to EUR 350m, a EUR 100m term loan guaranteed by The Danish Export and Investment Fund of Denmark (EIFO) and a EUR 100m uncommitted Guarantee facility. The green financing is supported by an updated Green Finance Framework and a Second Party Opinion issued by S&P Global re-confirming a Medium Green Rating. The Facilities comes in addition to the recently announced EUR 50m Green Loan facility with HSBC.