SBM Offshore signs US$400 million Sale and Leaseback agreement for FPSO Cidade de Paraty
Rhea-AI Summary
SBM Offshore has announced a significant financial agreement, signing a US$400 million non-recourse sale and leaseback financing for FPSO Cidade de Paraty with a tenor of 8 years. The transaction is set to complete by end of April 2025.
The FPSO is currently owned by a special purpose company, with SBM Offshore holding a 63.125% stake and partners owning 36.875%. Under the new agreement, ownership will transfer to four Chinese leasing companies, while SBM Offshore and partners will continue operations and maintenance for the remaining 8.5 years of the initial charter.
This marks SBM Offshore's first sale and leaseback financing, demonstrating the company's capability to provide innovative long-term financing solutions while maintaining its operational expertise in deepwater ocean infrastructure.
Positive
- Secured substantial US$400 million financing through sale and leaseback agreement
- Maintains operational control and revenue stream for 8.5 years
- Demonstrates ability to access diverse financing options through Chinese leasing partners
- Retains majority stake in operational partnership (63.125%)
Negative
- Transfer of asset ownership to external parties
- Increases financial obligations through leaseback arrangement
News Market Reaction – SBFFF
On the day this news was published, SBFFF declined 2.17%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Amsterdam, April 9, 2025
SBM Offshore announces it has signed a non-recourse sale and leaseback financing agreement for FPSO Cidade de Paraty for the total amount of US
FPSO Cidade de Paraty is owned by a special purpose company owned by affiliated companies of SBM Offshore (
SBM Offshore and its partners continue to operate and maintain the asset until the end of the initial charter and operate contracts for the remaining period of 8.5 years.
Douglas Wood, CFO of SBM Offshore, commented:
“We are very pleased to have signed the refinancing of FPSO Cidade de Paraty, the Company’s first sale and leaseback financing. With this strategic transaction we are demonstrating once again the value of our unique lifecycle offering not only from an execution and operation standpoint but also in our ability to continue to provide innovative long-term financing solutions for our clients. We appreciate the continued support from our Chinese leasing partners.”
Corporate Profile
SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy.
More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.
For further information, please visit our website at www.sbmoffshore.com.
| Financial Calendar | Date | Year | |
| Annual General Meeting | | April 9 | 2025 |
| First Quarter 2025 Trading Update | | May 15 | 2025 |
| Half Year 2025 Earnings | | August 7 | 2025 |
| Third Quarter 2025 Trading Update | | November 13 | 2025 |
| Full Year 2025 Earnings | | February 26 | 2026 |
For further information, please contact:
Investor Relations
Wouter Holties
Corporate Finance & Investor Relations Manager
| Phone: | +31 (0)20 236 32 36 |
| E-mail: | wouter.holties@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Media Relations
Giampaolo Arghittu
Head of External Relations
| Phone: | +31 (0)6 212 62 333 / +39 33 494 79 584 |
| E-mail: | giampaolo.arghittu@sbmoffshore.com |
| Website: | www.sbmoffshore.com |
Market Abuse Regulation
This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
Disclaimer
Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impacts, Risks and Opportunities’ section of the 2024 Annual Report.
Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.
This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the 2024 Annual Report, available on our website Annual Reports - SBM Offshore.
Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.
"SBM Offshore®", the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.
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FAQ
What is the value and duration of SBM Offshore's (SBFFF) sale and leaseback agreement for FPSO Cidade de Paraty?
How will the ownership structure change for FPSO Cidade de Paraty under the new agreement?
What is the remaining operational period for FPSO Cidade de Paraty under SBM Offshore's management?
How does this sale and leaseback agreement impact SBM Offshore's (SBFFF) financing strategy?
