Overview
We will be collecting all transaction data that has a green financing element to it, as well as elaborating on new green financing techniques and strategies we are seeing come to market. To ensure that we have the most up-to-date information, we will be hosting green financing experts who are involved in these transactions to shed further light on this important topic.
Current focus will be on:
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Sustainability-linked loans
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Green bonds
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ESG Metric Reporting
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Carbon Credit Markets
Featured Content
Green Financing Report
Marine Money brings you Green & Sustainability-linked Financing for Shipping: Understanding the Requirements, Benefits and Costs of Responsible Finance. From second party opinions to Key Performance Indicators, this report helps borrowers understand the key considerations of this fast-growing market for capital.
Event Videos
Green Financing Articles
Hurtigruten Goes Green
Feb 10, 2022
Last week, Hurtigruten AS successfully placed its three-year offering of €50 million of unsecured green bonds with a borrowing limit of €75 million. Rated CCC+/Caa1 on stable and negative outlooks, respectively, the bonds carried a coupon of 11% and were sold at an OID of 98%. The books were covered by indications of interest at guidance.
Green Financing Deals
Headline
MPC Container Ships ASA inks sustainability linked loan
Company
MPC Container Ships ASA
Type
Bond
Sector
Container
Amount (mUSD)
125
Transaction Date
9/25/24
Comments
Following a successful two-day roadshow, the bond issue attracted strong demand from a broad range of high-quality institutional investors globally. The book was significantly oversubscribed, enabling the deal to be upsized from USD 100 million to USD 125 million. Net proceeds from the bond issue will be applied towards general corporate purposes, including refinancing of existing financial indebtedness and acquisition of maritime assets. An application will be made for the bonds to be listed on the Oslo Stock Exchange.
Headline
TECO 2030 completes second tranche of a private placement with a green infrastructure investor
Company
TECO 2030
Type
Equity
Sector
Infrastructure
Amount (mUSD)
1
Transaction Date
8/30/24
Comments
Second tranche of the Advait Infratech Limited investment totaled NOK 10.5 million in TECO 2030 to support development of maritime hydrogen fuel cells.
Headline
IWS Fleet secures upsized green senior secured loan facility
Company
Integrated Wind Solutions ASA
Type
Loan
Sector
Offshore Wind
Amount (mUSD)
208.1
Transaction Date
8/29/24
Comments
The proceeds from the upscaled facility will be used for long-term post-delivery financing of the Commissioning Service Operation Vessel (“CSOV”) newbuildings, three of which are still under construction with delivery in Q4 2024 and H1 2025.
Headline
Eidesvik Offshore ASA receives grant to fund conversion of the Viking Energy to dual fuel operation.
Company
Eidesvik Offshore ASA
Type
Equity
Sector
Offshore
Amount (mUSD)
6
Transaction Date
8/26/24
Comments
Eidesvik announces that their vessel Viking Energy is part of the European innovation project ‘Apollo’ where the partners will retrofit the vessel with a dual fuel engine able to operate on ammonia. The project has been granted EUR 5 million in funding from the European Union’s Horizon Europe program. Additional details were not disclosed.
Headline
Cadeler has successfully renegotiated and replaced a senior secured green term loan facility
Company
Cadeler A/S
Type
Loan
Sector
Offshore Wind
Amount (mUSD)
456
Transaction Date
8/19/24
Comments
The replacement facilities, one for each M-Class wind turban installation vessels, have been entered into on materially improved terms reflecting Cadeler’s strong credit story and strengthened market position. Additional details were not disclosed.
Headline
New vessel design firm receives initial funding to design an innovative sailing vessel
Company
Drift Energy
Type
Equity
Sector
Offshore
Amount (mUSD)
6
Transaction Date
8/16/24
Comments
DRIFT Energy aims to drive the clean energy transition worldwide with high-performance sailing vessels that harness deep ocean wind to produce green hydrogen at sea.
Headline
TECO 2030 completes first tranche of a private placement with a green infrastructure investor
Company
TECO 2030
Type
Equity
Sector
Infrastructure
Amount (mUSD)
1
Transaction Date
7/26/24
Comments
Advait Infratech has agreed to invest NOK 11 million in TECO 2030 to support development of maritime hydrogen fuel cells.
Headline
Gunvor Group secures another sustainability-linked syndicated RCF and accordion
Company
Gunvor Group Ltd.
Type
Loan
Sector
Diversified
Amount (mUSD)
1320
Transaction Date
7/12/24
Comments
Gunvor secures US $1.32 billion sustainability-linked syndicated RCF with over-subscription and accordion with participation by 26+ world wide lenders. Proceeds will be used for general corporate and working capital purposes, including the refinancing of the Borrower’s existing US$ 1.035 billion 2023 Asia Sustainability-linked Revolving Credit Facility. Additional details were not disclosed.
Headline
Klaveness Combination Carriers successfully places a second bond tap facility
Company
Klaveness Combination Carriers AS
Type
Bond
Sector
Diversified
Amount (mUSD)
28.2
Transaction Date
7/2/24
Comments
The Company will use the net proceeds from the senior unsecured sustainability-linked bonds for general corporate purposes, which may also include refinancing of debt.