Odfjell Drilling has, on 26 May 2021, received firm bank commitments for
amending and extending the November 2021 debt maturities.
The Deepsea Aberdeen facility, currently with USD 211 million outstanding across
two export credit tranches and one commercial tranche, will be extended on the
existing terms. The final maturity will be adjusted to ultimo May 2024. The
outstanding amount at maturity will be USD 55 million.
The Odfjell Drilling Services Ltd facility will be extended to ultimo June 2023.
The outstanding amount is currently USD 170 million. USD 20 million, otherwise
repayable in November 2021, will be repaid on the closing date of the extension.
The remaining facility will be repaid by quarterly instalments of USD 5 million,
with the first repayment due in February 2022. The applicable margin is 400
The commitments above are mutually dependent, and otherwise subject to final
documentation being signed and standard conditions precedent being duly
satisfied prior to closing.
For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889
Aberdeen, United Kingdom
26 May 2021
Odfjell Drilling Ltd.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.