Italian offshore energy services firm Saipem has entered into a new $620 million revolving credit facility with a pool of fourteen national and international financial institutions.
The facility has a tenor of three years, extendable for a further period of either one or two years at the option of the lenders.
The new credit facility replaces the revolving credit facility of $488 million signed in February 2023, while increasing its amount.
“The transaction further strengthens Saipem’s financial structure and confirms its strong partnership with the national and international financial institutions,” the company said in a statement.