ENSCO Completes Financing Facility

Friday, January 14, 2000
ENSCO International Incorporated announced the closing of a new $195 million loan facility guaranteed by MARAD. The facility will be used to finance the ENSCO 7500 semisubmersible drilling rig currently being constructed for ENSCO by Friede Goldman Offshore. The rig is scheduled to commence drilling operations for Burlington Resources during the fourth quarter of 2000. The MARAD guarantee covers both interim financing during the construction period as well as 15 year bonds to be issued upon completion of construction. ENSCO expects to begin drawing under the interim financing during the first quarter of 2000. The company also has reached a final settlement with Petroleos de Venezuela ("PDVSA") of various issues related to the October 1998 sale of four barge rigs to PDVSA by ENSCO's 85 percent-owned Venezuelan subsidiary. As a result of this settlement, ENSCO will realize a gain of $6.8 million, or approximately $5.2 million net after taxes and minority interest, in the fourth quarter of 1999.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Abu Dhabi Ports Welcomes New Cruise Season

As Abu Dhabi's new Zayed Port cruise terminal opens by the end of this year, the number of cruise ships docking in Abu Dhabi is set to increase by a fifth this season, reports the National.

Cruise Critic Awards Best Cruise Lines of 2015

Online cruise guide Cruise Critic has announced the winners of its annual Editors' Picks Awards for 2015, revealing the industry's top performers in a variety of different categories.

Becker Marine, Kotug Sign MOU for LNG Hybrid Barge

Press release - Becker Marine Systems and KOTUG signed a Memorandum of Understanding to launch a LNG Hybrid Barge in the Port of Rotterdam with effect from June 2017.

Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1010 sec (10 req/sec)