Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services has received a $1.35 billion Bank Facility firm commitments from lenders for a $1.35 billion syndicated secured term loan to partially finance the construction costs of the Ocean Rig Mylos, the Ocean Rig Skyros and the Ocean Rig Athena.
Ultra-deepwater drillships newbuilding hulls Ocean Rig Mylos, Ocean Rig Skyros and Ocean Rig Athena are under construction at Samsung Heavy Industries Co Ltd.
This facility has a 5 year term, and approximately an 11 year repayment profile. The facility bears interest at LIBOR plus a margin. Lead banks are DNB Bank and Nordea Bank supported by several other commercial lenders. Also participating in this financing are export credit agencies Garanti-Instituttet for Eksportkreditt (GIEK), Export Credit Norway and the Import-Export Bank of Korea (KEXIM).
This agreement is subject to definitive documentation which the Company expects to complete in the first quarter of 2013.
Ocean Rig UDW, February 5, 2013
Source: http://worldmaritimenews.com/archives/75739
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