On 12 May 2017, Clifford Capital updated and upsized its Euro Medium Term Note Programme (“EMTN Programme”) from US$1billion to US$1.35billion.  The new programme limit will take effect from 1 July 2017. The updated Offering Circular has been filed with the Singapore Exchange. The EMTN Programme is guaranteed by the Government of Singapore and has been rated AAA by the Standard & Poor’s Rating Services. Net proceeds from the programme will be used for general corporate purposes.

Clifford Capital acted as Bookrunning Mandated Lead Arranger on a US$1.45 billion Senior Secured Term Loan Facility to finance the Cidade de Marica floating production storage and offloading vessel ("FPSO") that will be deployed under a 20 year charter agreement with Petróleo Brasileiro S.A (“Petrobras”) in Brazil. 

Clifford Capital provided a meaningful commitment based on the value of the supply contracts from a number of Singapore-based companies including Dyna-Mac Holdings Ltd which had supplied the topside modules for the FPSO. 

SBM Offshore is an industry leading provider of floating production solutions to the offshore energy industry, with its main focus on the design, supply, installation, operation and the life extension of FPSO vessels. The FPSO is owned by a consortium that includes SBM Offshore, Mitsubishi, Nippon Yusen Kaisha and QGOG Constellation. 

For media enquiries or interview requests, please contact:

Clifford Capital Pte. Ltd.

Audra Low
Head of Origination & Structuring
+65 3157 8930
audra.low@cliffordcap.sg

Tulchan Communications LLP
Adwin Low
+65 6222 3765 / +65 9026 3001
alow@tulchangroup.com