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FINWIRES

SBM Offshore Obtains $465 Million Project Financing for Floating Storage, Offloading Vessel

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SBM Offshore (SBMO.AS) secured a $465 million project financing from a consortium of banks and investors for the construction of its floating storage and offloading vessel Chalchi.

The loans, with a maximum term of 14 years, included partial insurance coverage from China Export & Credit Insurance Corp., the Dutch offshore floating production company said Monday.

The vessel will be leased to Woodside Energy's affiliate, Woodside Petróleo Operaciones de México, on a 20-year lease upon completion. It will be used for Woodside's 60%-owned Trion project in Mexico.

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