Austal secures $100m loan for US shipyard expansion

Austal Limited has secured a US$100 million loan facility from Export Finance Australia (EFA), the Australian Government's export credit agency, on October 7, 2025. This funding is dedicated to enhancing Austal's construction capabilities for US Navy and US Coast Guard vessels at its Mobile, Alabama Shipyard, specifically supporting the Final Assembly 2 (FA2) project. The 10-year loan tenor reflects the long-term secured order book, including up to eleven US Coast Guard Offshore Patrol Cutters and up to seven US Navy Ocean Surveillance vessels (T-AGOS).

This EFA facility was part of Austal's A$488 million refinance package announced in late June 2025. The funding is critical for Austal's continued investment in its shipbuilding and submarine capabilities, which also include the submarine Module Manufacturing Facility 3 (MMF3) project in the USA.

Separately, a Form 605 filing indicates that State Street Corporation and its subsidiaries ceased to be a substantial holder in Austal Limited on October 3, 2025, with changes in relevant interests and collateral movements observed between September 17 and October 3, 2025. This change in shareholding is distinct from the EFA loan announcement.