Seatrium, a prominent shipbuilding and repairing company, has announced that its subsidiary, Seatrium Financial Services (SFS), successfully secured a S$500 million committed revolving credit loan facility (RCF). The arrangement, facilitated by DBS, HSBC, and Standard Chartered Bank (Singapore), is aimed at providing additional funding and liquidity to enhance the financial flexibility of Seatrium, which also specializes in manufacturing converter stations.
SFS, with Seatrium acting as the guarantor, will benefit from the RCF, which is expected to support the company's business operations and strategic initiatives. Paul Tan, Acting Group Finance Director of Seatrium, emphasized the significance of the credit facility in reinforcing the company's financial strength and outlook. Tan expressed gratitude for the strong support from top financial institutions, highlighting their commitment to fostering growth in Singapore's offshore, marine, and energy industries.
Lim Wee Seng, Group Head of Energy, Renewables, and Infrastructure at DBS Bank, highlighted the bank's pleasure in being part of this inaugural club loan. He emphasized DBS's commitment to aiding companies in achieving global competitiveness and reinforcing Singapore's status as a key business hub.
Lim Jit Min, Managing Director and Head of Large Local Corporates at HSBC Singapore, underscored HSBC's enduring relationship with Seatrium. He expressed satisfaction in playing a role in supporting the company's growth aspirations, anticipating that the new facility will facilitate Seatrium's expansion, especially in the realm of energy transition.
Freddy Ong, Head of Client Coverage, Singapore, Corporate, Commercial, and Institutional Banking at Standard Chartered Bank (Singapore), expressed delight in strengthening the longstanding partnership with Seatrium Group. Ong affirmed the bank's commitment to supporting Seatrium in its growth and expansion plans, leveraging its extensive regional and global footprint.
In addition to the S$500 million RCF, Seatrium has successfully secured green trade finance and sustainability-linked facilities exceeding S$2 billion.