Cadeler secures capital to boost offshore wind transport and installation

Today, Cadeler entered into an unsecured green loan facility with HSBC. The purpose of the facility is, among others, to fund Cadeler’s construction of the X-class and F-class newbuild vessels and upgrade of the existing O-class vessels with new cranes. The financing includes a non-committed accordion option of up to EUR 50 million. This underlines Cadeler’s strategic market position.

Cadeler entered into an unsecured green term loan facility (the "Green loan Facility") in an aggregate amount of EUR 50 million (tenor of up to five years) with The Hongkong and Shanghai Banking Corporation Limited, Singapore branch (“HSBC”).

Mikkel Gleerup, CEO of Cadeler said: “With Cadeler’s strategic position in the market, we are well placed to meet the increasing global demands and to execute the largest and most complex offshore wind installation projects.”.

The purpose of the facility is, among others, to fund Cadeler’s construction of the X-class and F-class newbuild vessels and upgrade of the existing O-class vessels with new cranes. The financing includes a non-committed accordion option of up to EUR 50 million.

Christina Ma, head of Global Banking Asia Pacific, HSBC said: “This green loan showcases HSBC’s ability to arrange tailored solutions for clients. We’re pleased to partner with Cadeler as the Sole Mandated Lead Arranger, Green Loan Coordinator, and Facility Agent.”

About Cadeler A/S

Cadeler A/S is a key supplier with the offshore wind industry for installation services and operation and maintenance works that provides marine and engineering operations to the offshore wind industry with a strong focus on safety and the environment. Cadeler’s reputation as provider of high-quality offshore wind support services, combined with an innovative vessel design, positioning the company to deliver premium level services to the industry. As a company, Cadeler continues to pursue new levels of efficiency, pushing beyond the current boundaries of the supply chain. Cadeler enables and facilitates the global energy transition towards a future built on renewable energy. Cadeler is listed on the Oslo Stock Exchange (ticker CADLR).

About HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories. With assets of $3,021bn at 30 September 2023, HSBC is one of the world’s largest banking and financial services organisations.

For further information, please contact:

Mikkel Gleerup, CEO

+45 3246 3102

mikkel.gleerup@cadeler.com