XML 401 R125.htm IDEA: XBRL DOCUMENT v3.24.1
Financial Liabilities: Interest-bearing Loans and Borrowings (Details)
$ in Millions
1 Months Ended 12 Months Ended
Dec. 07, 2023
EUR (€)
Nov. 15, 2023
EUR (€)
Jul. 04, 2022
EUR (€)
Jun. 29, 2022
EUR (€)
Nov. 04, 2020
EUR (€)
Dec. 31, 2023
EUR (€)
item
Nov. 30, 2023
EUR (€)
Oct. 31, 2023
EUR (€)
Jul. 31, 2022
EUR (€)
Dec. 31, 2023
EUR (€)
borrower
Dec. 31, 2022
EUR (€)
Dec. 31, 2021
EUR (€)
Dec. 23, 2023
EUR (€)
Nov. 30, 2023
USD ($)
Jun. 30, 2023
EUR (€)
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Proceeds from borrowing net of bank fees                   € 199,935,000 € 113,459,000        
Repayment of debt facility                   115,000,000 65,000,000 € 10,000,000      
Amount unutilized           € 1,107,000,000       1,107,000,000          
Finance expense                   4,486,000 9,681,000 € 5,491,000      
Remaining percentage of purchase cost of the M-Class Newbuilding to be funded (in percent)             35.00%                
Maturity date of the Facility in relation to each vessel             12 years                
Additional funding required for the A-Class newbuilds           450,000,000       450,000,000          
Eneti Inc                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Repayment of debt facility               € 12,600,000              
Outstanding amount of previous credit facility               59,400,000              
Senior Secured Green Revolving Credit Facility                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Term loan       3 years                      
Notional amount       € 185,000,000                      
Maximum borrowing capacity                             € 310,000,000
Proceeds from borrowing net of bank fees     € 115,000,000                        
Available borrowing capacity     150,000,000               € 150,000,000        
Repayment of debt facility     70,000,000                        
Finance expense                 € 810,000            
Non-amortizing term loan                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Notional amount       150,000,000                      
Balloon payment to be made as loan repayment       150,000,000                      
Maximum borrowing capacity       € 35,000,000                      
Non-amortizing term loan | Senior Secured Green Revolving Credit Facility                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Term loan       3 years                      
Term loan from DNB Bank ASA                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Maximum borrowing capacity                             250,000,000
Repayment of debt facility     € 55,000,000                        
Overdraft facility from SpareBank 1 SR-Bank                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Maximum borrowing capacity                             € 60,000,000
Repayment of debt facility         € 25,000,000                    
New Debt Facility                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Maximum borrowing capacity € 550,000,000                            
Proceeds from borrowing net of bank fees               162,000,000              
Available borrowing capacity               450,000,000              
Repayment of debt facility               € 115,000,000              
Amount unutilized           343,000,000       343,000,000          
Finance expense                   € 1,800,000          
Interest rate basis (in percent)                   80%          
Minimum Free Liquidity, threshold cash and cash equivalents to be available at all times           € 50,000,000       € 50,000,000          
Minimum Free Liquidity, Threshold percentage of gross interest bearing debt           5.00%       5.00%          
Threshold minimum Equity Ratio           35       35          
Threshold minimum working capital           € 0       € 0          
Maximum percentage of The consolidated net profit for dividends and distributions of new debt facility                   50.00%          
Threshold minimum percentage of voting and/or ordinary shares considered as change of control           25.00%       25.00%          
Period to provide written notice for cancelling total commitments and demanding prepayment of all amounts outstanding, upon change of control                   60 days          
New Debt Facility | Minimum                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Minimum Free Liquidity, Threshold percentage of gross interest bearing debt           7.50%       7.50%          
Threshold minimum percentage of gross interest bearing debt to be covered by fair market value of vessels           140.00%       140.00%          
New Debt Facility | Maximum                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Minimum Free Liquidity, Threshold percentage of gross interest bearing debt           50.00%       50.00%          
Threshold minimum percentage of gross interest bearing debt to be covered by fair market value of vessels           150.00%       150.00%          
Revolving credit facility, 5 year tenor                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Term loan 5 years                            
Maximum borrowing capacity € 250,000,000                            
Revolving credit facility, 18 months tenor                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Term loan 18 months                            
Maximum borrowing capacity € 100,000,000                            
Term loan, 8.5 year tenor                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Term loan 8 years 6 months                            
Maximum borrowing capacity € 100,000,000                            
Uncommitted guarantee facility                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Maximum borrowing capacity € 100,000,000                            
Amount unutilized           € 55,000,000       € 55,000,000          
Uncommitted guarantee facility | Minimum                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Interest rate basis (in percent)                   0.80%          
Uncommitted guarantee facility | Maximum                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Interest rate basis (in percent)                   1.20%          
Unsecured Holdco Facility                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Term loan   5 years                          
Maximum amount of noncommitted accordion option   € 50,000,000                          
Adjustment to interest rate basis (in percent)           4.00%       4.00%          
New Credit Facility                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Maximum borrowing capacity             € 436,000,000             $ 436  
Amount unutilized           € 288,000,000       € 288,000,000          
Percentage of purchase cost of the M-Class Newbuilding financed by the Facility (in percent)             65.00%                
Interest rate basis (in percent)             SOFR                
Adjustment to interest rate basis (in percent)           2.40% 2.36%     2.40%       2.36%  
P-Class Facility                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Term loan           12 years                  
Maximum borrowing capacity           € 425,000,000       € 425,000,000     € 425,000,000    
Amount unutilized           € 425,000,000       € 425,000,000          
Number of subsidiaries along with whom the company entered in to the facility           2       2          
Threshold minimum percentage of voting and/or ordinary shares considered as change of control           25.00%       25.00%          
P-Class Facility | Minimum                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Adjustment to interest rate basis (in percent)           0.90%       0.90%          
P-Class Facility | Maximum                              
Financial Liabilities: Interest-bearing Loans and Borrowings                              
Adjustment to interest rate basis (in percent)           2.40%       2.40%