Fred. Olsen raises cash for newbuild ‘Bollsta Dolphin’

Fred. Olsen Energy ASA has signed a new six-year bank credit facility of up to $2 billion.

The company said in the release that the credit facility will be used to repay existing bank loan, full-finance the newbuild Bollsta Dolphin semi-submersible drilling rig and for general corporate purposes.

The facility is provided by a group of international banks and GIEK/Eksportkreditt; with Nordea, ING, ABN Amro, Danske Bank, DNB, Handelsbanken, SEB and Swedbank as Mandated Lead Arrangers.

Bollsta Dolphin is a newbuild semi-submersible rig of Moss Maritime CS 60 E design from Hyundai Heavy Industries scheduled for delivery in the first half of 2015.