Pacific Drilling Pens Export Credit Facility for Drillship Construction

(RigZone, Houston, 20 February 2013) Pacific Drilling has announced the signing of a $1 billion senior secured credit facility agreement to finance construction of 2 offshore oil drilling rigs, the Pacific Sharav (Chevron, US Gulf of Mexico) and Pacific Meltem. The transaction was led and structured by Citibank and DNB, and supported by the Norwegian export credit agencies Garanti-Instituttet for Eksportkreditt (GIEK) and Eksportkreditt Norge AS. Also acting as Mandated Lead Arrangers were ABN AMRO, ING, SEB and Standard Chartered Bank.