Conyers Dill & Pearman advises banks and lenders on senior-secured credit facility
Conyers Dill & Pearman has advised ING Bank, and other banks and lenders, in relation to the establishment of a senior-secured $1.45bn (£934m) credit facility.
The credit facility involves, among others, Seadrill Tellus, Seadrill Auriga and Seadrill Vela as joint and several borrowers; Seadrill as parent and guarantor; and certain banks and financial institutions as lenders, including ING Bank as facility agent, security agent, documentation agent, commercial co-ordinator and commercial bookrunner.
The proceeds from the establishment of the facility will be used to finance the construction and delivery of certain sixth-generation ultra-deepwater drillships.
Paul Nystrom and Kathleen Moniz, from Conyers Dill & Pearman’s Bermuda office, advised on the matter.
News from Conyers Dill & Pearman
Briefings from Conyers Dill & Pearman
The Trusts (Special Provisions) Amendment Act 2014 provides certainty regarding how far settlors can go without calling the validity of the trust structure into question.
This memorandum has been prepared for the assistance of those who are considering registration of a foreign limited partnership in the Cayman Islands.