Norton Rose Fulbright advises on €247m EIFO-backed green financing for Cadeler's Wind Apex vessel

Norton Rose Fulbright has advised on a €247 million senior secured green term loan facility for Cadeler A/S to support the construction of its third A-class offshore wind installation vessel, Wind Apex.

The 12-year financing is backed by the Export and Investment Fund of Denmark (EIFO) and has been designated as green financing under Cadeler's Green Finance Framework. The facility will partially finance the construction of Wind Apex, with delivery expected in the second quarter of 2027.

The transaction supports the continued expansion of Cadeler's specialised fleet servicing the global offshore wind sector and highlights the important role that export credit agency-supported financing continues to play in enabling the energy transition. The financing builds on Norton Rose Fulbright's longstanding relationship with the Cadeler newbuild programme, having advised lenders on a series of vessel financings for the company over the past three years.

The cross-border Norton Rose Fulbright team was led by EMEA Co-Head of Asset Finance Yianni Cheilas and included counsel Nicholas Papadopoulos, senior associate Alexi Remoundos and associate Rebecca Martindale.

Yianna Cheilas commented:

"We are delighted to have advised on this significant financing, which will support the continued growth of offshore wind infrastructure and the broader energy transition. This complex transaction brings together a strong group of European and Asian lenders and demonstrates the continued strength of the market for sustainable, ECA-backed financings."