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Songa Offshore Secures $1.1b Credit Facility for Cat D 3 and 4

Source: www.gulfoilandgas.com 6/27/2014, Location: Europe

Songa Offshore SE has received a firm commitment from banks and an Export Credit Agency for the financing of the Cat D 3 and 4 newbuilds with a pre-delivery financing of USD 90 million per rig and a post-delivery financing of USD 550 million per rig. The terms of the financing are at competitive terms and the Company plans to complete final documentation of the transactions in third quarter 2014. The commercial tranche of the senior secured credit facility is underwritten.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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