March 5, 2020 |
Mexican shipping and oilfield services company Blue Marine has secured a MXN520 billion ($26.6 million) working capital loan from HSBC, according to a source close to the deal.
Blue Marine will use the money to pay for operations related to service contracts with the state-owned oil company Pemex. The company securitized its contracts with Pemex, put the proceeds in a fund and used them to back the loan, the source said.
Blue Marine provides offshore well services, platform maintenance and other
Mexican shipping and oilfield services company secures working capital to fulfill Pemex contracts