Rowan Completes Long-Term 5.88% Refinancing of Gorilla VI Debt

Sunday, March 18, 2001
Rowan completed the refinancing of its $156.8 million of outstanding floating-rate Gorilla VI debt through the issuance of a 5.88% fixed-rate note maturing in March 2012. As a result of this transaction, Rowan expects to realize a $1.8 million reduction in interest expense in 2001 compared to 2000. The floating-rate debt was issued under the Title XI program of the U. S. Department of Transportation's Maritime Administration to finance the construction of Rowan Gorilla VI, which was completed in June 2000. Outstanding borrowings bore interest at 7.11% at December 31, 2000. The fixed-rate note is U.S. Government-guaranteed under the Title XI program. Gorilla VI secures the government guarantee.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Viking Supply Ships Sell PSV 'SBS Cirrus'

Rederi AB TransAtlantic subsidiary Viking Supply Ships says it has sold the 1985 built platform supply vessel SBS Cirrus. The vessel has been delivered to its new owners,

SBM Offshore Announces Thunder Hawk Tiebacks

SBM Offshore is pleased to announce it has signed a Production Handling Agreement (PHA) with Noble Energy to produce the Big Bend and Dantzler fields to the

Fifth Jackup Contract for Keppel from Gulf Drilling

Keppel FELS Limited, a wholly owned subsidiary of Keppel Offshore & Marine, has secured a contract from Gulf Drilling International Ltd. of Qatar to build a

Finance

Sri Lanka Port Project: China Merchants, CHEC Invest $601-M

Two of China's largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka's Hambantota port, part of a series of

Viking Supply Ships Sell PSV 'SBS Cirrus'

Rederi AB TransAtlantic subsidiary Viking Supply Ships says it has sold the 1985 built platform supply vessel SBS Cirrus. The vessel has been delivered to its new owners,

UK Chamber Stance Neutral on Scottish Independence

The UK Chamber of Shipping is taking a neutral position in the Scottish independence debate and has given both the Yes and Better Together sides space on its website

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1189 sec (8 req/sec)