9 September (Houston, Texas) – 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 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,” 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.”
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 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 . “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.”
The program is currently available for global oil & gas and marine offshore customers. For more information on the new Asset Financial Solution, please contact Antti Ekqvist at Ekqviao@cat.com or +1 713- 329-2232.
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About Caterpillar Oil & Gas
Caterpillar Oil & Gas, Caterpillar Inc.’s oil and gas division with headquarters in Houston, Texas, consolidates all the sales and service activities for Cat oil and gas power solutions. Since the 1930s, Caterpillar has manufactured engines for the oilfield and today provides premier power solutions with outputs from 31 to 16,000 kW. The sales and service network includes more than 2,100 dealer locations world-wide dedicated to support customers in the drilling, production, well service and gas compression segments. More information is available at: http://www.catoilandgasinfo.com
About Caterpillar
For nearly 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2014 sales and revenues of $55.184 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments – Resource Industries, Construction Industries and Energy & Transportation – and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.
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