Caterpillar’s new product – a financial innovation

Caterpillar Oil & Gas is pleased to announce the introduction of Asset Financial Solutions, an innovative financial product that provides 100% financing new offshore or marine assets. The new solution enables Caterpillar to offer customers a tailored solution to optimise their business and expand their fleets without raising additional capital or taking on project construction risk.

A new financing model

“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,” Antti Ekqvist, Caterpillar Oil & Gas Global Offshore Manager said. “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.”

What does it offer?

The Asset Financial Solution affords customers zero project risk from the onset. The financial offering has the flexibility to account for all aspects of an offshore new build, 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 programme include jackup and semi-submersible rigs, accommodation units, drillships, liftboats, offshore support vessels, and tug boats.

“At Caterpillar, we are firmly committed to partnering with our customers to help them win regardless of market conditions. It’s our job to design concise, easy solutions that help their bottom line and we believe the new Asset Financial Solution delivers on that promise and more."

Edited from various sources by Stephanie Roker

Read the article online at: https://www.worldpipelines.com/product-news/10092015/caterpillars-new-product-a-financial-innovation/