Scorpion Completes Offshore Intrepid Financing
Scorpion Offshore Ltd., through its wholly owned subsidiary Scorpion Intrepid Ltd., has completed the construction financing for the Offshore Intrepid. Natixis and BTMU Capital Corp., a wholly owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., jointly underwrote the transaction.
The financing consists of a $95 million term loan and a $10 million revolving credit facility. Both the term loan and revolving credit facility mature 5 years from the delivery of the rig from the shipyard.
All five Scorpion rigs currently under construction are now fully financed.
Scorpion Offshore Ltd. is a Bermuda-based corporation founded in 2005 to own and operate state-of-the-art offshore drilling rigs.
- Seadrill's Mandatory Offer to Purchase All Scorpion Shares (Jul 15)
- Seadrill Increases Ownership in Scorpion Offshore (May 31)
- UPDATE: Ensco Ends Partial Offer for Scorpion Offshore (May 28)