Search results for: second lien

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  • 12 November 2012
    Business & Finance

    Prospector Offshore Drilling S.A. has entered into a non-binding terms and conditions agreement with the China Development Bank Corporation for a senior secured credit facility to finance the final installment of the shipyard construction contract with Dalian Shipbuilding Industry Offshore Co., Ltd. The Facility is considered to be on prevailing market terms for this kind […]

  • 28 March 2014
    Business & Finance

    McDermott International, Inc. has announced that it intends, subject to market and other conditions, to offer $500 million aggregate principal amount of its second-lien senior secured notes due 2021. The notes will be offered only to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”) and to […]

  • 11 April 2014

    McDermott International, Inc. announced the pricing of $500 million in aggregate principal amount of 8.00% second-lien senior secured notes due 2021. Settlement of the offering is expected to occur on April 16, 2014, subject to customary closing conditions. At closing, the Notes will be issued at a price of 100.00% of the principal amount. The Notes will be […]

  • 28 April 2014
    Business & Finance

    Prospector Offshore Drilling S.A. announces that its newly formed subsidiary, Prospector Finance II S.à r.l. has secured a fully committed Senior Secured Credit Facility (the “Senior Credit Facility”), subject to documentation, in the amount of USD 270 million. Prospector Finance II S.à r.l. is also contemplating the issuance of a USD 100 million second lien bond (the “Bond […]

  • 29 June 2020
    Business & Finance, Business developments & projects, Vessels

    Hornbeck Offshore expects to emerge from bankruptcy in the coming few months following approval of its reorganization plan by a U.S. court.

  • 16 February 2018
    Business & Finance

    Houston-based Fieldwood Energy has filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code as part of a “prepackaged” chapter 11 case. 

  • 10 April 2012
    Business & Finance

    Ship Finance International Limited, today announced that it has agreed to terminate chartering agreements with Horizon Lines, LLC (“Horizon Lines”) relating to five of its vessels. Ship Finance will receive as termination compensation $40 million in second lien notes issued by Horizon Lines and warrants exercisable into ten percent of the common stock of Horizon […]

  • 10 April 2014

    McDermott International, Inc. today announced the pricing of $500 million in aggregate principal amount of 8.00% second-lien senior secured notes due 2021 (the “Notes”).   Settlement of the offering is expected to occur on April 16, 2014, subject to customary closing conditions. At closing, the Notes will be issued at a price of 100.00% of […]

  • 21 August 2018
    Exploration & Production

    The company expects a smooth plan confirmation process and a quick emergence from its Chapter 11 proceedings,

  • 16 November 2017
    Business & Finance

    US-based operator of dry bulkers Eagle Bulk Shipping is, through its subsidiaries, looking to secure net proceeds to repay its debts. The company’s subsidiary Eagle Bulk Shipco has priced USD 200 million in senior secured bonds which will carry a coupon of 8.25% and be due in November 2022. Additionally, the company informed that a separate subsidiary, Eagle Shipping LLC, […]

  • 26 February 2014
    Business & Finance

    Fieldwood Energy LLC announced the closing of its acquisition of SandRidge Energy, Inc.’s Gulf of Mexico and Gulf Coast business unit for a net cash payment of approximately $705 million, which reflects adjustments to the purchase price for cash flow since the effective date and net working capital. Production from the acquired assets currently exceeds […]

  • 2 October 2017
    Business & Finance

    U.S. creditors of the French geophysical player CGG have accepted the company’s proposed restructuring plan under Chapter 11 of the U.S. bankruptcy law as the company is working to reduce its massive debt.  The French company informed on Monday that all creditors entitled to vote on the Chapter 11 plan proposed in the Chapter 11 cases […]

  • 7 September 2018
    Business & Finance, Exploration & Production

    Offshore driller Pacific Drilling has made plans to offer $700 million of senior secured notes with a maturity of five years as part of its financial restructuring.

  • 31 March 2016
    Business & Finance

    Marshall Islands-registered owner of Supramax dry bulk vessels Eagle Bulk Shipping has reached an agreement with its lenders and holders of approximately 75% of the company’s outstanding equity for a comprehensive balance-sheet recapitalization. The deal comes after a number of delays and extensions of the forbearance period on its loan which was due to be paid in […]

  • 15 December 2017
    Business & Finance

    Cobalt International Energy and certain of its U.S. affiliates have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code. 

  • 21 February 2020
    Exploration & Production

    Shelf Drilling has closed a private placement of $80 million of senior secured notes with an intention to use the proceeds to finance activation and upgrade costs for a drilling rig recently acquired from Maersk Drilling. 

  • 6 October 2011
    Business & Finance

    Polarcus Limited announces that the Company has signed the loan documentation for a bank loan facility of USD 410 million with DnB NOR Bank ASA and DVB Bank SE, Nordic Branch, together with Garanti-instituttet for Eksportkreditt (GIEK) and Eksportfinans ASA (the “Fleet Bank Facility”). The loan documentation replaces the committed term sheet that was announced […]

  • 6 October 2011
    Business & Finance, Operations & Maintenance

      Polarcus Limited announces that the Company has signed the loan documentation for a bank loan facility of USD 410 million with DnB NOR Bank ASA and DVB Bank SE, Nordic Branch, together with Garanti-instituttet for Eksportkreditt (GIEK) and Eksportfinans ASA (the “Fleet Bank Facility”). The loan documentation replaces the committed term sheet that was […]

  • 31 July 2017
    Business & Finance

    French geophysical services player CGG has received an approval of its draft safeguard plan by creditors’ committees in France as the company is working to cut about $2 billion off of its debt.  The company’s restructuring plan entails full conversion of unsecured debt into equity and raising up to $500 million of new money through a $125 million rights […]

  • 21 July 2011

    Polarcus Limited announced that the Company has signed a term sheet for a bank facility of USD 410 million with DnB NOR Bank ASA and DVB Bank SE, Nordic Branch, together with Garanti-instituttet for Eksportkreditt (GIEK) and Eksportfinans ASA (the “Fleet Bank Facility”). The Fleet Bank Facility is offered at attractive terms and significantly improves […]

  • 21 July 2011
    Business & Finance

    Polarcus Limited announced that the Company has signed a term sheet for a bank facility of USD 410 million with DnB NOR Bank ASA and DVB Bank SE, Nordic Branch, together with Garanti-instituttet for Eksportkreditt (GIEK) and Eksportfinans ASA (the “Fleet Bank Facility”). The Fleet Bank Facility is offered at attractive terms and significantly improves […]

  • 7 November 2017
    Business & Finance

    A court in Paris has rescheduled a hearing date to examine CGG’s request for sanctioning of its draft safeguard plan and the claim filed against it.