Seadrill Refinances $600MM Credit Facility

Seadrill is in the final stages of refinancing part of the bridge loan financing due in May 2010. The Company has received board approval from a finance institution guaranteeing US $420 million of a new US $600 million credit facility.

The facility will have participation from export credit agencies as well as commercial banks and will be secured in the drillship West Capella and the jackup drilling rig West Ariel. The completion of such facility will provide US $267 million in additional financing after reducing the bridge from US $1 billion to US $667 million.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit