Germany

Germany

KfW Ipex approves Fred. Olsen Windcarrier loan

Two vessels collateral for €145 million loan

Germany's KfW Ipex bank and Danish Ship Finance yesterday agreed to accept the jack-up installation vessels "Brave Tern" and "Bold Tern" as collateral for a loan to Norwegian company Fred. Olsen Windcarrier to expand its offshore wind business, a KfW Ipex spokeswoman told Windpower Offshore today.
 
Of the overall finance sum of €145 million, the German bank will provide €85 million itself,  the remaining €60 million being shouldered by Danish Ship Finance, KfW Ipex said in a statement on 27 June 2013. 
 
The two third-generation jack-up installation vessels were built at the Lamprell Shipyard in Dubai.

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