Eksfin backs OMS Group’s purchase of two fibre-optic cable-laying vessels from Ulstein

Guarantees up to USD 183 million

Financing has now been secured for OMS Group’s four-vessel newbuilding programme. The two vessels supported by Eksfin’s guarantee, CS Resilience and CS Alliance, are designed by Ulstein Design & Solutions AS and scheduled for delivery from Ulstein Verft in Norway in 2028. Each will be 130 metres long and able to carry up to 6,500 tonnes of fibre optic cables.

Eksfin is supporting the transaction both during construction and through guarantees for OMS Group’s long-term bank financing.

“Our role is to support Norwegian exporters competing internationally. By financing Ulstein and OMS Group at different stages of this transaction, we help Norwegian suppliers secure business contracts abroad,” says Tone Lunde Bakker, CEO of Eksfin.

“Financing is an important part of competing for international shipbuilding contracts. Working closely with Eksfin and the banks has helped us put this transaction together,” says CFO Johannes Volle at Ulstein.

Additional capacity for subsea fibre-optic cable networks

OMS Group is a global, neutral and integrated digital infrastructure service provider with capabilities spanning subsea cable installation and maintenance, cable landing stations and marine and terrestrial connectivity. Its four new fibre-optic cable-laying vessels, scheduled for delivery in 2027 and 2028, will expand its capacity to meet growing demand for subsea connectivity.

Eksfin’s guarantee supports financing for the two vessels from Ulstein. The other two vessels will be built at a Dutch owned yard in Vietnam, with financing supported by Atradius Dutch State Business N.V. (“Atradius”).

Commercial banks are providing the loans under the export credit agency-backed facilities. Standard Chartered and HSBC acted as joint global coordinators, bookrunners and ECA coordinators for the transaction.