QG Shows Drillship Loan

QG Shows Drillship Loan

Brazil Loans

Brazil’s Queiroz Galvao has launched a $980m 6-year loan via Citi, BNP Paribas and ING as it looks to raise financing for the construction of two more drillships. Margins are heard to be around L+275bp with an upfront fee of 150bp for top tickets of around $100m. Leads had been sounding out banks earlier this month, but it wasn’t clear whether they would launch the deal so close to year-end or wait until 2012. In July, Queiroz Galvao Oleo e Gas wrapped up a $700m 7-year, 3.8 average li

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