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Pacific Drilling SA Announces Signing Of $1 Billion Senior Secured Credit Facility


Tuesday, 19 Feb 2013 05:16pm EST 

Pacific Drilling SA announced that it has signed a $1 billion senior secured credit facility agreement to finance construction of the Pacific Sharav and Pacific Meltem. The term loan made pursuant to the credit facility will have a maturity of 5 years from the delivery date of the Pacific Meltem. A portion of the funding will be provided before delivery of the vessels, with all drawdowns from the facility subject to satisfaction of customary conditions precedent. The transaction was led and structured by Citibank and DNB, and supported by the Norwegian export credit agencies Garanti-Instituttet for Eksportkreditt (GIEK) and Eksportkreditt Norge AS. Also acting as Mandated Lead Arrangers were ABN AMRO, ING, SEB and Standard Chartered Bank. Legal counsel for the company was Vinson & Elkins LLP, and legal counsel for the lenders was Holland & Knight. 

Company Quote

9.95
-0.07 -0.70%
3:46pm EDT