GOGL 鈥� Golden Ocean and CMB TECH signed loan facilities of $2 billion to refinance outstanding debt in Golden Ocean
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Golden Ocean and CMB.TECH have secured $2 billion in loan facilities to refinance Golden Ocean's outstanding debt, marking a significant financial milestone ahead of their planned merger. The agreement includes a $1.25 billion term loan facility and a $750 million revolving credit facility (RCF). The term loan is scheduled for drawdown in Q2 and Q3 2025, while the RCF will become available after the merger's completion, expected in Q3 2025. Golden Ocean will serve as the borrower, with CMB.TECH acting as the parent guarantor. This refinancing arrangement follows CMB.TECH's earlier announcement in March 2025 regarding their identification of a bank syndicate for this purpose.
Golden Ocean e CMB.TECH hanno ottenuto finanziamenti per 2 miliardi di dollari tramite prestiti per rifinanziare il debito in essere di Golden Ocean, segnando un importante traguardo finanziario in vista della loro fusione programmata. L'accordo prevede una linea di credito a termine da 1,25 miliardi di dollari e una linea di credito revolving (RCF) da 750 milioni di dollari. Il prestito a termine sar脿 erogato nel secondo e terzo trimestre del 2025, mentre la linea revolving sar脿 disponibile dopo il completamento della fusione, previsto per il terzo trimestre del 2025. Golden Ocean sar脿 il soggetto prenditore, con CMB.TECH come garante principale. Questo rifinanziamento segue l'annuncio di CMB.TECH di marzo 2025, in cui veniva comunicata l'identificazione di un sindacato bancario a tale scopo.
Golden Ocean y CMB.TECH han asegurado pr茅stamos por 2 mil millones de d贸lares para refinanciar la deuda pendiente de Golden Ocean, marcando un hito financiero importante antes de su fusi贸n planeada. El acuerdo incluye un pr茅stamo a plazo de 1,25 mil millones de d贸lares y una l铆nea de cr茅dito revolvente (RCF) de 750 millones de d贸lares. El pr茅stamo a plazo est谩 programado para ser desembolsado en el segundo y tercer trimestre de 2025, mientras que la RCF estar谩 disponible tras la finalizaci贸n de la fusi贸n, prevista para el tercer trimestre de 2025. Golden Ocean ser谩 el prestatario, con CMB.TECH como garante principal. Este refinanciamiento sigue al anuncio anterior de CMB.TECH en marzo de 2025 sobre la identificaci贸n de un sindicato bancario para este prop贸sito.
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Golden Ocean et CMB.TECH ont obtenu des facilit茅s de pr锚t d'un montant de 2 milliards de dollars pour refinancer la dette en cours de Golden Ocean, marquant une 茅tape financi猫re importante avant leur fusion pr茅vue. L'accord comprend une facilit茅 de pr锚t 脿 terme de 1,25 milliard de dollars et une facilit茅 de cr茅dit renouvelable (RCF) de 750 millions de dollars. Le pr锚t 脿 terme est pr茅vu pour 锚tre d茅bloqu茅 au deuxi猫me et troisi猫me trimestre 2025, tandis que la RCF sera disponible apr猫s la finalisation de la fusion, attendue au troisi猫me trimestre 2025. Golden Ocean sera l'emprunteur, avec CMB.TECH agissant comme garant principal. Ce refinancement fait suite 脿 l'annonce pr茅c茅dente de CMB.TECH en mars 2025 concernant l'identification d'un syndicat bancaire 脿 cet effet.
Golden Ocean und CMB.TECH haben Darlehensfazilit盲ten in H枚he von 2 Milliarden US-Dollar gesichert, um die ausstehenden Schulden von Golden Ocean zu refinanzieren, was einen bedeutenden finanziellen Meilenstein vor ihrer geplanten Fusion darstellt. Die Vereinbarung umfasst eine Term-Darlehensfazilit盲t 眉ber 1,25 Milliarden US-Dollar und eine revolvierende Kreditfazilit盲t (RCF) 眉ber 750 Millionen US-Dollar. Das Term-Darlehen soll im zweiten und dritten Quartal 2025 abgerufen werden, w盲hrend die RCF nach Abschluss der Fusion, voraussichtlich im dritten Quartal 2025, verf眉gbar wird. Golden Ocean fungiert als Kreditnehmer, CMB.TECH als Hauptb眉rge. Diese Refinanzierungsvereinbarung folgt auf die fr眉here Ank眉ndigung von CMB.TECH im M盲rz 2025, in der die Identifizierung eines Bankkonsortiums f眉r diesen Zweck bekannt gegeben wurde.
Positive
- Secured substantial $2 billion in financing facilities
- Diversified financing structure with both term loan and revolving credit facility
- Strong backing from bank syndicate demonstrates confidence in the merger
- Parent guarantee from CMB.TECH provides additional security
Negative
- Significant debt burden of $2 billion could impact financial flexibility
- RCF availability contingent on merger completion, creating timing uncertainty
Reference is made to the press release issued by CMB.TECH NV (NYSE: CMBT & Euronext Brussels: CMBT) ("CMB.TECH") on March 4, 2025, which announced that they had identified a bank syndicate to refinance all or parts of the outstanding debt in Golden Ocean Group Limited (鈥淕olden Ocean鈥�).
Golden Ocean and CMB.TECH hereby announce the signing of a
The term loan facility of
For further queries, please contact:
Peder Simonsen, CEO of Golden Ocean Management AS
Telephone: +47 22 01 73 40
Randi Navdal Bekkelund, CFO of Golden Ocean Management AS
Telephone: +47 22 01 73 40
June 20 2025
Hamilton, Bermuda
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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FAQ
What is the total value of Golden Ocean's new loan facilities with CMB.TECH?
The total value of the loan facilities is $2 billion, comprising a $1.25 billion term loan facility and a $750 million revolving credit facility.
When will GOGL's new loan facilities become available?
The $1.25 billion term loan facility is expected to be drawn in Q2 and Q3 2025, while the $750 million RCF will become available after the merger completion in Q3 2025.
Who are the main parties involved in GOGL's refinancing agreement?
Golden Ocean (GOGL) acts as the borrower, while CMB.TECH serves as the parent guarantor, with financing provided by a bank syndicate.
What is the purpose of GOGL's $2 billion loan facilities?
The loan facilities are intended to refinance Golden Ocean's outstanding debt in connection with the planned merger between Golden Ocean and CMB.TECH.
When is the merger between Golden Ocean and CMB.TECH expected to complete?
The merger between Golden Ocean and CMB.TECH is expected to complete in Q3 2025.
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