Cadeler announced that it signed an EIFO-backed senior secured green term loan facility of €247 million to help finance construction of Wind Apex, its third A-class newbuild offshore wind installation vessel.
Wind Apex is expected to be delivered in the second quarter of 2027. The vessel is part of Cadeler’s continued fleet expansion as demand grows for specialized offshore wind installation capacity.
The 12-year facility is supported by the Export and Investment Fund of Denmark, known as EIFO. The financing has also been designated as green financing under Cadeler’s Green Finance Framework.
The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch acted as Coordinator, Mandated Lead Arranger, Facility Agent, Security Agent, and EIFO Agent.
The lending syndicate includes HSBC, KfW IPEX-Bank, Coöperatieve Rabobank U.A., and DNB Bank ASA.
Cadeler said the financing reflects continued confidence from EIFO and its international banking partners in the company’s growth strategy and ability to deliver offshore wind installation capacity for customers.
EIFO said the transaction supports its strategic priority of strengthening Danish companies and supply chains involved in the energy transition. The new facility marks EIFO’s third transaction supporting Cadeler.
Cadeler is a pure-play offshore wind installation partner focused on offshore wind turbine transport and installation. The company owns and operates the industry’s largest fleet of jack-up offshore wind installation vessels.
Cadeler is also expanding its capabilities into full-scope foundation transport and installation, along with operations and maintenance. The company supports offshore wind projects globally through its modern fleet and expertise across onshore and offshore operations.
Cadeler is listed on the New York Stock Exchange under the ticker CDLR and on the Oslo Stock Exchange under the ticker CADLR.
KEY QUOTES:
“We are pleased to have secured this financing for Wind Apex together with a strong group of international banking partners. We greatly value our longstanding relationship with EIFO and appreciate their continued support for Cadeler’s growth. Their backing, together with that of our lending partners, reflects continued confidence in Cadeler and our ability to deliver the offshore wind installation capacity our customers need.”
Mikkel Gleerup, CEO of Cadeler
“Strengthening Danish companies and supply chains in the energy transition is a strategic priority for EIFO. Cadeler exemplifies how quickly Danish expertise can scale globally, now operating the world’s largest installation fleet for offshore wind. With this third transaction, we reaffirm our long-term commitment to supporting Cadeler’s continued growth.”
Peter Boeskov, COO at EIFO Large Corporates
