At a glance
- The package comprises $911.5 million in corporate facilities, trade facilities and export credit agency-backed term loans.
- For a fund underwriting a cable landing station or a new subsea route, the added installation capacity mostly arrives in 2028.
- HSBC Singapore and Standard Chartered Bank acted as joint global coordinators, bookrunners and ECA coordinators.
OMS Group said it had raised $1.03 billion in facilities to fund four fiber-optic cable-laying vessels scheduled for delivery in 2027 and 2028.
The package comprises $911.5 million in corporate facilities, trade facilities and export credit agency-backed term loans. A further $120 million of trade facilities is pending financial close. Atradius Dutch State Business and Export Finance Norway, known as Eksfin, support the ECA facilities.
For a fund underwriting a cable landing station or a new subsea route, the added installation capacity mostly arrives in 2028. Only the CS Genesis, under construction in Haiphong, Vietnam, is targeted for 2027. The CS Triumph follows from the same yard, and the CS Resilience and CS Alliance are being built in Gdynia, Poland, all for 2028. OMS operates six cable-laying and repair vessels, plus two barges and three tugboats, so four newbuilds delivered on schedule would take the cable fleet to 10.
HSBC Singapore and Standard Chartered Bank acted as joint global coordinators, bookrunners and ECA coordinators. KKR Capital Markets was corporate adviser. Fourteen banks lent into the corporate facility and 12 into the ECA facility.
OMS, formally Optic Marine Group, was founded in 1983 and is based in Selangor, Malaysia. KKR invested $400 million in the company in 2023.
Reported by the Data centers & fiber desk from Data Center Dynamics. Published . Corrections