SBM Offshore Signs US$400M Sale And Leaseback Agreement For FPSO Cidade de Paraty

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$400M and with a tenor of 8 years. The transaction is expected to be completed before the end of April 2025 following the fulfillment of certain closing conditions.

FPSO Cidade de Paraty is owned by a special purpose company owned by affiliated companies of SBM Offshore (63.125%) and its partners (36.875%). Under the terms of the agreement, the special purpose company will transfer the ownership to four Chinese leasing companies.

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 more information, visit www.sbmoffshore.com.