Norton Rose Fulbright advises DNB Bank on sustainability-linked facility for Cadeler

Global law firm Norton Rose Fulbright has advised DNB Bank, KfW and SpareBank on a green term loan facility for the refinancing of Wind Keeper (formerly Bo Qiang 3060), Cadeler’s latest offshore wind turbine installation vessel.

DNB Bank was mandated lead arranger, co-ordinator and agent for the sustainability-linked facility, which features ancillary facilities to assist Cadeler with the vessel’s operational activities.

Wind Keeper is a 2024-built jack-up wind turbine installation vessel (WTIV) constructed by Shanghai Boqiang Heavy Industry and was delivered to Cadeler in Q3 2025. It has been fitted with advanced European equipment, making it uniquely suited for the global offshore O&M market. Norton Rose Fulbright advised DNB Bank on bridge facilities for its acquisition earlier this year.

The cross-border Norton Rose Fulbright team advising on the matter was led by EMEA Co-Head of Asset Finance Yianni Cheilas, with support from special counsel Nicholas Papadopoulos and senior associate Alexi Remoundos.

Norton Rose Fulbright also recently advised DNB Bank on a €675 million financing for Cadeler, as well as on two syndicated green financing and partially ECA-backed facilities, totalling €1.075bn, for Cadeler in 2023. Furthermore, it advised Société Générale, along with a syndicate of banks, in relation to two green loan facilities for Cadeler in 2024.