Next Geosolutions has finalised a financing agreement to acquire the offshore vessel Siem Day for approximately $112 million. The vessel, which was purchased from Siem Day II, has been renamed NG Supporter following the transaction announced on March 18.
Intesa Sanpaolo and Cassa Depositi e Prestiti supported the acquisition by providing financing for 70 per cent of the total investment. This loan carries a repayment term of 10 years to facilitate the expansion of the fleet.
Intesa Sanpaolo acted as the lead bank by underwriting 60 per cent of the loan amount. Cassa Depositi e Prestiti provided the remaining 40 per cent for the industrial project.
Chief Financial Officer Giuseppe Maffia said that the completion of the financial transaction strengthens the partnership between the company and its lenders. He noted that the financial institutions have historically supported the development plans of the group.
The acquisition follows a previous announcement regarding a letter of intent signed with Saipem on January 15. Chairman Attilio Ievoli stated that the NG Supporter provides the company with the ability to diversify its activities across subsea markets.
Ievoli also mentioned that the technical features and onboard systems make the vessel a "strategic asset" in the subsea sector.
