Sevan Marine draws $480m project finance loan

31 Mar 2011

Norway’s Sevan Marine, an offshore floating installation company, has drawn down a $480m project finance facility after syndication was completed.

The loan was fully underwritten by ING, DVB Asia, NIBC, Eksportfinans and China Development Bank as mandated lead arrangers.

The syndicated loan will be used to repay the first and second lien construction financing for Sevan Driller, a new rig, as well as general corporate purposes. Petrobras began ...

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