Caterpillar Launches Asset Financial Solutions
Press Release - Caterpillar Oil & Gas has announced the introduction of Asset Financial Solutions, a financial product that provides 100 percent financing new offshore or marine assets. The new solution enables Caterpillar to offer customers a tailored solution to optimize their business and expand their fleets without raising additional capital or taking on project construction risk.
“Our message is clear: we have a proprietary new financing model for the offshore industry that can help our customers succeed and grow despite down cycle market conditions,” said Antti Ekqvist, Caterpillar Oil & Gas global offshore manager. “The Asset Financial Solution was developed to be a simple, succinct financing source available for the complete duration of a customer’s project from the start of construction to post delivery and operation.”
The Asset Financial Solution aims to afford customers zero project risk from the onset. The financial offering has the flexibility to account for all aspects of an offshore newbuild, including risk mitigation for unexpected construction or project costs. Strong collaboration between customers, Cat dealers and Caterpillar is established at the project’s inception, with the asset being built to the customer’s requirements. Assets ideal, but not limited to, for the financing program include jackup and semi-submersible rigs, accommodation units, drillships, liftboats, offshore support vessels and tug boats.
The program is currently available for global oil and gas and marine offshore customers.