Songa Offshore $2.14 billion financing of oil rigs

Overview:

• International mid-water drilling contractor Songa Offshore has secured a $2.14 billion financing package.
• The proceeds are for four Category D rigs that were constructed in South Korea.
• The facility was provided by an international syndicate, with Swedbank acting as agent.
• Prior to the four new ones, Songa already operated five rigs in the North Atlantic Basin.
• Delivery of the rigs was spread out across fiscal quarters.

Jon Moore - Journalist