OMS Group, an underwater service company, has completed a $1.03 billion financing transaction to provide funding for its expansion, including the acquisition of four new fiber optic cable laying vessels, which are expected to join its fleet in 2027 and 2028.

These new ships will enhance the company’s cable laying capabilities, enabling it to keep up with the growing demand for underwater connectivity brought about by the continuous expansion of cloud computing, AI, and data centers.

Ronnie Lim, CEO of OMS Group, said, “This financing supports our long-term growth plan and ongoing investment in the group’s end-to-end digital infrastructure capabilities. With these four new ships, we aim to enhance our cable laying capabilities and help clients build networks that support global digital growth.”

The company has five active cable laying vessels through its OMS Telco division and four new vessels under construction.

Oversubscribed by more than twice

The financing plan includes a $911.5 million term loan arrangement, supported by corporate, trade, and export credit agencies (ECAs), and an additional $120 million trade financing arrangement pending financial delivery.

HSBC Singapore and Standard Chartered Bank serve as the joint global coordinators, bookkeepers, and ECA coordinators for the transaction, while KKR Capital Markets serves as the corporate advisor.

Export credit agencies Atradius Dutch State Business and Export Finance Norway will provide support for ship financing.

According to OMS Group, this financing has received strong participation from regional and international banking markets, including existing banking partners and new lenders.

The company stated that “both corporate loans and ECA supported loans have received over double oversubscription, reflecting the broad confidence of lenders in the group and its growth plans.”

The company added that corporate loans and ECA supported loans are built through a coordinated and consistent process, tailored to the nature of the industry and the group’s expansion plans.

Abhishek Pandey, Global Head of Transportation Finance at Standard Chartered Bank, said, “This transaction demonstrates that deep industry expertise, strategic consulting, structured solutions, and strong international cooperation can collectively support clients’ long-term investment plans. OMS Group is well positioned to seize the significant opportunities brought about by the continued expansion of global digital infrastructure.”