Two geotechnical drilling vessels financedCorporate News -
NIBC acted as mandated lead arranger of a USD 91 million senior secured loan for New York-based alternative investment manager ICON Investments. The proceeds from the loan will be used to finance the acquisition of the geotechnical vessels “Fugro Voyager” and “Fugro Scout” under a sale-and-leaseback transaction with Fugro. The debt package was provided together with ABN AMRO and Rabobank.
ICON invests in various types of capital asset intensive businesses by providing companies with collateralized debt, debt-related financings and other creative financial solutions. ICON will charter the two vessels back to Fugro.
Fugro is market leader in providing integrated geotechnical, survey, subsea and geosciences services to various industries, predominantly to the oil and gas market. The two vessels are core to Fugro’s Geotechnical business, which helps clients understand and manage the risks associated with ground conditions when developing their projects, both onshore and offshore.