OMS Group announces US$1.03 billion financing package for expansion
Four new cable-laying vessels are scheduled for delivery in 2027 and 2028, while US$120 million in trade facilities awaits financial close.
Subsea telecommunications infrastructure company OMS Group said it had secured a financing package worth US$1.03 billion to expand its operations, with funding earmarked for four additional fibre-optic cable-laying vessels.
The package comprises US$911.5 million covering corporate facilities, trade financing and term loans backed by export credit agencies. A further US$120 million of trade financing has yet to reach financial close.
Atradius Dutch State Business NV and Export Finance Norway are backing the export credit facilities for the vessel purchases. Delivery is scheduled across 2027 and 2028. OMS expects the ships to boost its cable-laying capacity, citing growing connectivity demand from cloud computing, artificial intelligence and data centres.
Banks from the region and overseas participated. Demand for the corporate facilities and the export credit-backed facilities exceeded the available amounts by more than two times. Chief executive officer Ronnie Lim said the funding would underpin longer-term growth and investment in the group's digital infrastructure capabilities.
HSBC Singapore and Standard Chartered Bank shared responsibility for global coordination, bookrunning and coordination with export credit agencies. KKR Capital Markets provided corporate advisory services.
