Geoquip Marine raises 100 million euros
St.Gallen - Geoquip Marine has launched a bond issuance of 100 million euros. The fresh capital raised through this transaction is intended to improve the company’s liquidity position and will be invested in two strategic projects.
(CONNECT) Geoquip Marine, which hails from the St.GallenBodenseeArea, has secured a fresh capital injection of 100 million euros from a bond issuance. As detailed in a press release, the Njord Partners subsidiary intends to use the gross proceeds from this bond deal both to improve its liquidity position and to carry out strategic investments in two projects, while some of the proceeds will be put towards servicing existing liabilities as well. The company offers offshore geotechnical solutions for industries such as energy, infrastructure and research. To this end, it operates proprietary vessels.
The projects include the conversion of the Geoquip Silvretta into a modern geotechnical services platform for the offshore energy sector. Work is currently underway at a Norwegian shipyard, with the vessel is scheduled to enter service in the first half of 2025.
The second project involves the installation of a rig on the Geoquip Elena. This vessel will be transitioned from its current chartered status into the company’s portfolio, with the aim of maximizing its potential from 2026 onwards.
“We are delighted to reach this significant milestone. The successful bond issuance not only enhances our financial position but also enables us to accelerate key initiatives supporting our continued expansion in the offshore geotechnical sector”, comments Rune Olav Pedersen, CEO of Geoquip, in the press release. ce/ww