Ocean Rig to receive financing for new drillship

OE Staff
Thursday, January 15, 2015

Ocean Rig UDW Inc. announced on 15 January 2015 that it has received commitments from lenders for a syndicated secured term loan designed to partially finance the construction costs of the Ocean Rig Apollo. The facility amount is for the lesser of US$475 million and 70% of the fair market value of the drillship. This facility has a five-year term, a 12-year repayment profile and bears interest at LIBOR plus a margin. The financing is led by DNB while the lending syndicate consists of DVB Bank in conjunction with the Import-Export Bank of Korea (KEXIM).

 

Categories: Vessels

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