Polarcus close to signing $410m refi

Polarcus, a seismic surveyer servicing the oil industry, has signed a term sheet for a $410m refinancing loan. DnB NOR Bank, DV Bank and export credit agencies Garanti-instituttet for Eksportkreditt (GIEK) and Eksportfinans are mandated lead arrangers on the deal, which refinances several lines of debt.

  • 28 Jul 2011
The Dubai-based borrower, which is unrated, hopes to sign the deal by the end of August. Part of the loan will be a $260m long term facility from Eksportfinans, which carries a fixed rate margin of 285bp. The borrower said that GIEK and the commercial banks will be ...

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