OMS Group has secured US$1.03 billion in financing facilities to acquire four new-built cable-laying vessels to meet growing demand for subsea connectivity, driven by cloud computing, artificial intelligence and data centre development.
The financing includes export credit agency ( ECA )-backed term loan facilities supported by Atradius Dutch State Business and Export Finance Norway ( Eksfin ). The fuel-efficient, fibre-optic vessels are scheduled for delivery in 2027 and 2028.
HSBC Singapore and Standard Chartered Bank acted as joint global coordinators, bookrunners and ECA coordinators, while KKR Capital Markets acted as corporate adviser for the transaction.
The financing received strong participation from regional and international banking markets, including existing banking partners and new lenders. Both the corporate and ECA-backed facilities were oversubscribed by more than two times, reflecting broad-based lender confidence in the group and its growth plans.
“This financing supports our long-term growth plans and continued investments in the group’s end-to-end digital infrastructure capabilities,” says OMS Group chief executive officer. “With these four newbuild vessels, we aim to strengthen our cable-laying capacity and help customers build the networks that underpin global digital growth.”
The corporate and ECA-backed facilities were structured through a coordinated process, tailored to the nature of the industry and the group’s expansion plans, while optimizing access to funding from a broad range of lenders, OMS says in a statement.
OMS Group is a global integrated digital infrastructure service provider. Its two key divisions, OMS Telco and LitUp Network, enable the group to provide sustainable, end-to-end solutions across the digital infrastructure value chain.
Its submarine cable installation, marine maintenance, cable landing stations, and digital infrastructure services business is headquartered in Shah Alam, Selangor, Malaysia.
