Seatrium secures $810 million in bank guarantees for future offshore ventures

(WO) — Seatrium Ltd. announced that its subsidiary, Seatrium Financial Services Pte. Ltd. (SFS), has secured a three-year S$1.1 billion ($810 million) syndicated bank guarantee (BG) facility. The facility, coordinated by DBS Bank and Standard Chartered Bank, involves eight leading financial institutions.

The BG facility, notable for its flexible structure, is a first in Singapore's offshore and marine industry. It aims to support Seatrium’s future project needs and business growth. Key partners in this facility include DBS Bank, Standard Chartered Bank, Shanghai Pudong Development Bank, and Mizuho Bank. New relationships were also established with First Abu Dhabi Bank, Malayan Banking, Emirates NBD Bank, and Clifford Capital.

“This S$1.1 billion syndicated BG facility will help Seatrium meet bank guarantee requirements for future projects, strengthen our capital structure, and support long-term sustainable growth,” said Adrian Teng, Seatrium’s chief financial officer. “Closing this facility demonstrates the trust and confidence our banking partners have in Seatrium’s strategic model and outlook.”