Transocean digs into more revolver liquidity
Switzerland’s Transocean has amended its bank revolving credit facility to increase the size to $1.36bn, with the fallen angel offshore contract drilling services provider keeping an additional $140m in the wings on the undrawn facility.
Transocean’s revolver, which matures in 2023, was initially for $1bn. The deal has an up to $500m accordion facility attached, with Transocean using $360m of that in the latest amendment.
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