North Star secures $370m financing for offshore wind fleet growth

UK-based integrated offshore infrastructure services company North Star has completed a £275 million (US$370 million) debt financing, adding to debt commitments to support continued growth, broadening its lender group and improving its terms.

The package is structured across sterling and euro tranches, reflecting North Star’s revenue base in both currencies. North Star’s lending group now includes new participants Rabobank, KfW IPEX-Bank and LBBW, with increased commitments also secured from existing lenders RBS, AIB, Scottish National Investment Bank and RBC, which also acted as lead advisor on the transaction.

"The confidence shown in North Star from existing and new lenders providers further credibility to the company’s ambitious plans for continued growth," North Star said in a statement on Monday, August 3.