Business
BW Energy strengthens liquidity with USD 250 million Revolving Credit Facility
BW Energy has signed a USD 250 million Corporate Revolving Credit Facility with DNB Bank. The facility provides enhanced financial flexibility to support ongoing field development activities and general corporate purposes. The financing is backed by BW Group, reflecting continued confidence in BW Energy's strategy. The facility has a tenor of 18 months with a bullet maturity and includes an option to extend by a further 18 months, subject to mutual agreement. The interest rate is Term SOFR plus
About this update from Bw Energy Ltd.
[{"type":"image","alt":"BW Energy Services Limited","displaySize":"","headline":null,"caption":"BW Energy Services Limited","className":"","disableSlideshowImg":false,"size":{"original":{"width":71,"height":82,"url":"https://media.zenfs.com/en/globenewswire.com/8710064c0508eb96954180f9b98e86bc"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/zA7J552wlEqXlAH_4kLK0Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTExMDtoPTEyNztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/8710064c0508eb96954180f9b98e86bc","width":71,"height":82}},"lazy":false},{"type":"text","content":"BW Energy has signed a USD 250 million Corporate Revolving Credit Facility with DNB Bank. ","length":89,"tagName":"p"},{"type":"text","content":"The facility provides enhanced financial flexibility to support ongoing field development activities and general corporate purposes. The financing is backed by BW Group, reflecting continued confidence in BW Energy's strategy.","length":230,"tagName":"p"},{"type":"text","content":"The facility has a tenor of 18 months with a bullet maturity and includes an option to extend by a further 18 months, subject to mutual agreement. The interest rate is Term SOFR plus 6% per annum on drawn amounts, with a commitment fee of 0.6% per annum on undrawn amounts.","length":273,"tagName":"p"},{"type":"text","content":"“This facility enhances our liquidity and provides cost-effective access to capital, allowing us to maintain financial flexibility as we advance our growth projects”, said Brice Morlot, Chief Financial Officer of BW Energy.","length":228,"tagName":"p"},{"type":"text","content":" ","length":6,"tagName":"p"},{"type":"text","content":"For further information, please contact: Martin Seland Simensen, VP Investor Relations [email protected] ","length":111,"tagName":"p"},{"type":"text","content":" ","length":6,"tagName":"p"},{"type":"text","content":"About BW Energy: ","length":16,"tagName":"p"},{"type":"text","content":"BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, ...