OMS Group Secures $1.03B Financing to Expand Subsea Cable-Laying Fleet
Singapore-based OMS Group has secured $1.0315 billion in corporate and export credit agency-backed financing facilities, supporting a fleet expansion that includes four new fibre-optic cable-laying vessels scheduled for delivery in 2027 and 2028.
The financing package comprises $911.5 million in corporate, trade and export credit agency (ECA)-backed facilities, together with an additional $120 million in trade facilities pending financial close.
The ECA-backed portion, supported by Atradius Dutch State Business and Export Finance Norway (Eksfin), will help finance the four newbuilds, expanding OMS Group's capacity to install and maintain subsea telecommunications networks.
The investment comes amid increasing demand for submarine cable infrastructure, driven by cloud computing, artificial intelligence and the continued development of data centers. The new vessels, described as modern and fuel-efficient, will supplement OMS's existing fleet of five active cable vessels, significantly increasing its marine installation capacity.
HSBC Singapore and Standard Chartered served as joint global coordinators, bookrunners and ECA coordinators, while KKR Capital Markets acted as corporate adviser. The transaction attracted participation from 14 corporate facility lenders and 12 ECA facility lenders, with both financing components oversubscribed by more than two times.
OMS Group CEO Ronnie Lim said the investment will strengthen the company's ability to support customers developing the subsea networks underpinning global digital infrastructure.
Through its OMS Telco division, the company provides submarine cable installation, repair, surveys, engineering and maintenance services. Its LitUp Network division complements those marine operations with cable landing stations, terrestrial backhaul, data center connectivity and fibre ownership.
The fleet expansion will extend OMS's capabilities across the submarine cable infrastructure market.
OMS Group’s fibre-optic cable-laying vessels CS Genesis and CS Triumph under construction in Haiphong, Vietnam, with delivery scheduled for 2027 and 2028, respectively. Image courtesy OMS
