$475 mi Committed Financing for Ocean Rig Apollo
petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig has received firm commitments from lenders for up to a $475 million syndicated secured term loan to partially finance the construction costs of the Ocean Rig Apollo. The facility amount is for the lesser of $475 million and 70% of the fair market value of the drillship. This facility has a 5 year term, and approximate 12 year repayment profile, and bears interest at LIBOR plus a margin. This financing is led by DNB and the lending syndicate consists
Ocean Rig Updates on Financing, Newbuildings & Contracts
2013. Order of 7th Generation Ultra Deepwater Drillship The Company announced that it has signed a contract to construct a 7th generation ultra deepwater drillship at Samsung Heavy Industries. This 7th Generation drillship is a sister ship to the three (Ocean Rig Skyros, Ocean Rig Athena, Ocean Rig Apollo) drillships currently under construction at Samsung, and is scheduled to be delivered to the Company in December 2015. Contract Extension for the Eirik Raude Ocean Rig also say that Lukoil has exercised its options for an additional two-well program under the previously announced Contract