BW Energy has signed a $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.
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.
“This facility enhances our liquidity and provides cost-effective access to capital, allowing us to maintain financial flexibility as we advance our growth projects,” Brice Morlot, chief financial officer of BW Energy, said.
