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Songa Offshore SE : Songa Offshore secures USD 1.1 billion credit facility for Cat D 3 and 4


June 27, 2014 - London

Songa Offshore SE (the "Company") has received a firm commitment from banks and an Export Credit Agency for the financing of the Cat D 3 and 4 newbuilds with a pre-delivery financing of USD 90 million per rig and a post-delivery financing of USD 550 million per rig. The terms of the financing are at competitive terms and the Company plans to complete final documentation of the transactions in third quarter 2014. The commercial tranche of the senior secured credit facility is underwritten.

Limassol, Cyprus
27 June 2014

For further information, please contact:
Jan Rune Steinsland, CFO (+47 970 52 533)

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Songa Offshore SE via Globenewswire

HUG#1805190

GlobeNewswire

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