Saipem has entered into a new €1 billion ‘Revolving Credit Facility’ with a pool of thirteen leading financial institutions. The facility has a tenor of five years, extendable for a further period of either one or two years at the option of the lenders.

The effectiveness of the new credit facility is subject to the satisfaction of certain conditions precedent, including completion of the proposed merger between Saipem and Subsea7.

The new credit facility will replace the €600 million ‘Revolving Credit Facility’ entered into by Saipem on February 10, 2025, and confirms Saipem’s strong partnership with national and international financial institutions.

About Saipem

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into business lines: Asset Based Services, Drilling and Sonsub, Energy Carriers, Offshore Wind, Sustainable Infrastructures. The company has 5 fabrication yards and an offshore fleet of 17 owned construction vessels and 12 drilling rigs, 9 of which owned. Driven by technological innovation and guided by its purpose, “Engineering for a sustainable future”, Saipem supports its clients on their journey towards Net Zero, through increasingly digital and environmentally sustainable solutions, technologies and processes. Listed on the Milan Stock Exchange, Saipem operates in more than 50 countries and employs about 30,000 people representing 125 nationalities.