OMS Group Secures $1 Billion for Fleet Expansion
The Singapore-based submarine cable operator has closed financing for four new cable-laying vessels scheduled for delivery in 2027 and 2028.
Updated on Nov. 3, 2026 in Data Centers
OMS Group secured $1.0315 billion in financing facilities for its fleet expansion, comprising $911.5 million in corporate, trade and export credit agency-backed facilities, with a further $120 million in trade facilities pending financial close. The package was oversubscribed by more than two times in both components.
Why it matters
The financing supports building out submarine cable infrastructure amid rising demand driven by cloud computing, artificial intelligence and data center development. It expands the capacity of a company that already operates five active cable vessels.
The $1.0315 billion package, of which $911.5 million is closed, was oversubscribed more than twofold, while OMS currently operates five active cable vessels. The $120 million in trade facilities remains pending financial close.
The players
OMS Group
Singapore-headquartered operator of submarine cable infrastructure, which through its OMS Telco and LitUp Network divisions provides cable installation, repair and landing station services.
HSBC Singapore
The Singapore arm of the global banking group HSBC, which served as joint global coordinator and bookrunner on the financing.
Standard Chartered
A London-headquartered international bank that served as joint global coordinator and bookrunner on the financing.
KKR Capital Markets
The capital markets arm of the global investment firm KKR, which acted as corporate adviser on the transaction.
The details
The financing includes corporate, trade and export credit agency-backed facilities, with the ECA portion supported by Atradius Dutch State Business and Export Finance Norway (Eksfin). HSBC Singapore and Standard Chartered served as joint global coordinators and bookrunners, with KKR Capital Markets acting as corporate adviser.
Timeline
2027: First two new cable-laying vessels scheduled for delivery.
2028: Remaining two new cable-laying vessels scheduled for delivery.
The Tech Race
The expansion reflects a race to build out submarine fibre-optic networks that carry traffic between cloud and AI data centers across borders. OMS's fleet growth positions it to compete for installation and maintenance work as hyperscale connectivity demand rises.
Expanded submarine cable capacity can support more reliable international data traffic for cloud and AI services that businesses and consumers rely on. The new vessels mainly affect network builders and operators rather than end users directly.
The takeaway
Growth in submarine cable fleets signals that the physical network beneath cloud and AI services is becoming a major investment priority. Watching delivery schedules and financing closes offers an early view of how quickly that capacity will arrive.
What happens next
The first two new cable-laying vessels are scheduled for delivery in 2027, with the remaining two due in 2028, and the $120 million in trade facilities remains pending financial close.
Further reading
Explore more on how undersea networks support Data Centers worldwide.
