Flexible financing for Windcat WorkboatsCorporate News -
NIBC Oil & Gas Services recently acted as mandated lead arranger of a EUR 25 million senior secured revolving credit facility for new Dutch client Windcat Workboats. The specialist provider of transport vessels for the offshore wind industry expects to use the funds mainly to finance the expansion of its fleet.
Founded in 2002, Windcat Workboats owns and operates 36 vessels that are used to transport crew to offshore wind turbines. It was acquired in 2011 by existing NIBC client SEACOR Marine Holdings, which invited NIBC in as a new lender to Windcat, joining current lender Rabobank. The new financing structure is expected to provide an efficient financing solution for Windcat’s fleet expansion plans.