Norway: Songa Raises USD 420 Million for Songa Eclipse Finance
Songa Offshore SE announced that the Company has finalized a new bank facility in the amount of USD 420 million.
The new facility has a repayment profile of 8.5 years and will be used to finance the delivery of the ultra-deepwater semisubmersible Songa Eclipse, currently ready for delivery from Jurong shipyard in Singapore.
Additionally, Songa has received a firm offer on a bank facility in the amount of USD 100 million. This facility will be used to part-finance the first installment on the 2 semisubmersibles currently on order from Deawoo Shipbuilding & Marine Engineering Co., Ltd (DSME).
Source: Songa Offshore, August 23, 2011.