Petroleum Geo-Services drills deep for RCF increase

By Nina Flitman
01 Oct 2013

Norwegian seismic survey group Petroleum Geo-Services (PGS) completed an amendment to increase its revolving credit line from $350m to $500m on Monday.

The facility, originally agreed in 2011, has also been extended to mature in September 2018 rather than May 2015.

DNB Bank and Nordea arranged the increase and extension of the undrawn line, with 10 banks committing to the increased facility.

When the line was signed in ...

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