AKOFS Offshore Secures $300M Credit Facility and Exercises Vessel Option

Subsea well construction and intervention provider AKOFS Offshore has concluded a $300 million reducing revolving credit facility agreement with DNB Bank and Sparebank 1 Sør-Norge.

The loan arrangement carries a tenor of four years, is non-recourse to shareholders, and will refinance existing borrowings for the vessels AKOFS Seafarer and AKOFS Santos.

AKOFS Offshore confirmed the facility also supplies funding to exercise a purchase option for Aker Wayfarer, an offshore vessel currently leased from Ocean Yield.

A formal notification has been issued to complete the acquisition at the conclusion of the lease period in the third quarter of 2027 for $57.7 million.

Currently operating in Brazil under contract with Petrobras, Aker Wayfarer was awarded a four-year contract in the first quarter of 2026 that the company stated is expected to commence in the third quarter of 2027.

Owned by Akastor and Japan's Mitsui OSK Lines, AKOFS Offshore operates three specialised offshore vessels.