SBM Offshore completes Chalchi project financing, shares backed by long-term cash flows

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-29, 09:14.

SBM Offshore (NL0000360618) disclosed a new project financing package this Monday. The group has signed US$465 million in funding for the FSO Chalchi unit, adding another long-tenor facility to its offshore portfolio as per the latest company release. Company announcement on the Chalchi financing

Chalchi financing in detail

The new Chalchi facility totals US$465 million and is structured as project financing provided by a consortium of international banks and institutional investors, according to SBM Offshore’s Amsterdam-dated statement. SBM Offshore financing release The loans will be drawn gradually during the construction period of the floating storage and offloading (FSO) unit.

Once the FSO Chalchi starts operations, the financing will become non-recourse to SBM Offshore’s balance sheet, with a maximum tenor of around 14 years post completion as highlighted in the disclosure. Details on non-recourse structure Partial insurance cover is provided by China Export & Credit Insurance Corporation, which helps de-risk the bank syndicate’s exposure to the project.

Analyst view and sector context

Project financings with long tenors are common across the offshore energy infrastructure space, with peers such as TechnipFMC and Subsea 7 also relying on similar structures for capital-intensive assets, according to recent sector commentary. Reuters analysis on offshore project funding For investors, non-recourse debt with insurance backing can be seen as supportive of risk management when revenues are underpinned by long-term contracts.

Coverage on SBM Offshore by European houses such as Kepler Cheuvreux and UBS typically highlights the company’s backlog of leased floating production units and FSOs as a key driver of recurring cash flows, with project-level debt matching asset lifetimes. Analyst consensus snapshot on SBM Offshore The Chalchi financing fits into this pattern, adding visibility to future income streams once operations commence.

The business behind the stock

SBM Offshore’s core business is the design, supply and lease of floating production systems such as FPSOs and FSOs, which are used by major oil companies to develop offshore fields, particularly in deepwater basins. Company overview of SBM Offshore Revenues are generated both from turnkey project delivery and long-term lease and operate contracts that can run for 15 to 25 years.

Where the stock trades today

The SBM Offshore shares (NL0000360618) trade on Euronext Amsterdam, where they are part of the local energy and engineering segment; the latest available quote shows the stock trading at around 15 euros on 2026-06-29, 09:00 CET, according to exchange data. Euronext Amsterdam price data for SBM Offshore

This article is for informational purposes only and does not constitute investment advice, a buy or sell recommendation, or any form of financial promotion. All data are based on publicly available sources believed to be reliable at the time of publication.