PV Drilling's News

The contract signing ceremony of syndicated term loan facility and long-term loan facility for the PV Drilling III jack-up rig project(12/18/2008)

On the 10th of December, 2008, at Park Hyatt Hotel, Ho Chi Minh City, PV Drilling and PVD Invest hosted the signing ceremony of 115 millions USD offshore syndicated term loan facility with ABN AMRO Bank N.V., Australia and New Zealand Banking Group Limited, and The Hongkong and Shanghai Banking Corporation Limited which were subsequently joined by Oversea-Chinese Banking Corporation Limited and First Commercial Bank as Mandated Lead Arrangers during the syndication process along with Far East National Bank and Land Bank of Taiwan who joined as Arrangers under the guarantee of PetroVietnam.

At the ceremony, PV Drilling and PVD Invest also announced the success of the 35-millions USD Long term loan contract form BIDV Main Transaction Office #2. As the result, PV Drilling and PVD Invest has successfully completed the raising funds to finance the purchase of a Class B Mod V jack-up drilling rig from Keppel Fels, which is the company's third drilling rig named PV Drilling III during challenging market. With this achievement of capital arrangement, PV Drilling's and PVD Invest's Management Committees strongly believe in the success of PV Drilling III jack-up rig project in the future.

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