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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

World's Richest Travellers Prefer Panama

According to AFP Relaxnews, Panama saw the most growth in interest among the world’s richest jetsetters for travel this winter and spring.   Panama saw the most

SS United States to Sail Again

Crystal Cruises reaches deal to restore the record-breaking and storied SS United States to a fully operational modern luxury cruise ship   Crystal Cruises has

Royal Caribbean Posts 4Q Profit

Royal Caribbean Cruises Ltd reported 2015 results and provided guidance for 2016. Continuing on its Double-Double trajectory, the company’s adjusted earnings for 2015 were $4.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Shipbuilding / Vessel Construction Winch
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: 0.0614 sec (16 req/sec)