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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Steel Cut for Third RCI Quantum-class Cruise Ship

The steel cutting for 'Ovation of the Seas', scheduled to be delivered in the autumn of 2016, took place at the Meyer Werft shipyard in Papenburg, Germany, where 'Quantum of the Seas',

Holland America Line's New Ship is ms Koningsdam

Holland America Line revealed the name of its new 99,500-ton cruise ship slated for delivery in February 2016 will be ms Koningsdam. While the name pays homage

L-3 MSI to Equip Third Quantum Class Ship

L-3 Marine Systems International (L-3 MSI) announced today that it has been awarded a contract to provide a range of navigation, lighting and communication systems

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0992 sec (10 req/sec)