Deep sea driller

From WikiCover

On September 10, 2007, Sevan Marine announced that its affiliate, Sevan Drilling, has signed an agreement for a US$400 million senior debt project finance facility for the Sevan Deepsea Driller vessel with Mandated Lead Arrangers GE Energy Financial Services, GE Transportation Finance and DVB Group Merchant Bank.

The facility, fully underwritten by the lead arrangers, is partially guaranteed by Garantinstituttet for eksportkreditt (GIEK - Norwegian Export Credit Agency) and is in the process of being syndicated to a limited group of international banks by GE Capital Markets.

"The Sevan Driller clearly demonstrates the versatility of the Sevan technology. We look forward to new exciting applications of this technology and aim to be there to support Sevan once again as and when needed," said Sven Dybdahl, Head of DVB's Floating Production Group.