Seward & Kissel Represents Eldorado Drilling in connection with a $550 Million Credit Facility provided by Beal Bank
August 23, 2024
Seward & Kissel represented Eldorado Drilling AS in connection with a $550 Million amended and restated senior secured credit facility from Beal Bank. The agreement includes a $275 Million increase to the existing $275 Million facility previously provided by Beal Bank. The facility has been provided to partially finance the purchase price of, and improvements to, two 7th generation ultra-deepwater drillships under construction in South Korea.
Headquartered in Olso, Norway, Eldorado Drilling is a premier ultra-deepwater drillship company. Headquartered in Plano, Texas, the Beal Bank family of companies comprises one of the largest private financial institutions in the United States.
The Seward & Kissel Team was led by partners Mike Timpone and Sophia Agathis and associate Matthew Pintea.
Seward & Kissel LLP (www.sewkis.com) is a leading New York law firm, originally established in 1890, offering legal advice emphasizing business, financial and commercial law and related litigation. The firm’s Business Transactions Group handles middle-market M&A, private equity, venture capital and joint venture transactions involving a wide variety of industries.
Please click here to read Beal Bank’s announcement describing this transaction.
For more information about Seward & Kissel, contact:
- Michael Timpone | 212-574-1342 | timpone@sewkis.com
- Sophia Agathis | 212-574-1514 | agathis@ssewkis.com
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