Beal Bank USA Lends $450,000,000 to Otto Candies, LLC Increasing Commitment to Jones Act and Offshore Support Vessel Sectors

DALLAS, Nov. 12, 2025 /PRNewswire/ -- Beal Bank USA is pleased to announce that it has arranged a term loan of $450,000,000 to Otto Candies, LLC.

Andy Longhurst, Managing Director and head of Shipping for Beal Bank USA's wholly-owned commercial lending subsidiary CSG Investments, Inc., said, "Acquiring four high quality, high-demand vessels represents a pivotal moment for Otto Candies. These funds will help the company further develop their existing first-class platform in the Jones Act offshore markets, supporting both oil & gas and wind development and production. With this facility, CSG is once again demonstrating our willingness to originate large transactions on a bilateral basis, supporting niche, but vital, maritime asset classes."

Otto Candies III, CEO of Otto Candies, LLC, said, "This acquisition marks a major milestone for Otto Candies, LLC, and we're grateful to Beal Bank USA for their critical role in making it happen. Their ability to move decisively and provide a clear, committed financing solution on a tight timeline was instrumental."

Farzin Dinyarian, Managing Director and head of Oil & Gas for CSG said, "Beal Bank USA is always looking to support large American owned and operated companies across industries with their secured financing needs."

Piper Sandler acted as sole placement advisor to Otto Candies, LLC. The proceeds from the loan were used for general corporate purposes, including refinancing of existing indebtedness and paying for the acquisition of the 4 MPSVs from Harvey Gulf.

About Beal Bank USA: Beal Bank USA (Member FDIC and Equal Housing Lender), part of one of the largest privately owned financial institutions in the nation, held total assets of approximately $16.4 billion as of September 30, 2025. The Bank has a well-earned reputation as stable, strongly capitalized financial institution.

CSG is active in originating loans for Beal Bank USA and its affiliates secured by acquiring individual loans and loan portfolios and by financing and funding loans and syndication interests in loans secured by tangible assets in such industries as commercial real estate, lodging, energy and power, manufacturing, timber, and transportation and distribution. Beal Bank USA's core consumer service is to provide depositors with competitive rates on certificates of deposits (CDs) through its branches and online.

About Otto Candies, LLC: Otto Candies, LLC is a privately owned marine transportation and offshore services company headquartered in Des Allemands, Louisiana. The company operates one of the most respected and capable fleets in the U.S. Jones Act market, including highly specialized inspection, maintenance, and repair (IMR) vessels and offshore supply vessels (OSVs). Otto Candies serves a wide range of offshore industries throughout the U.S. Gulf of Mexico and U.S. East Coast.

With a legacy spanning over 80 years, Otto Candies is known for delivering safe, reliable, and efficient marine operations backed by experienced mariners, cutting-edge equipment, and long-standing client relationships. The company is committed to meeting the evolving needs of the offshore energy sector with a solutions-focused, partnership-driven approach.

Contacts:
Andy Longhurst ([email protected]; 469-467-5537)
Hans Hubbard ([email protected]; 713-940-0641)
Farzin Dinyarian ([email protected]; 469-467-5736)
Damien Reynolds ([email protected]; 469-467-5618)

SOURCE CSG Investments, Inc.