KfW Ipex approves Fred. Olsen Windcarrier loan

Two vessels collateral for €145 million loan

by Sara Knight 28 June 2013

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 “uåX˜äŠÊ˜·³Ç 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.