TX-PACIFIC-DRILLING
Pacific Drilling S.A. (NYSE: PACD) (the “Company”) announced today that it has entered into a $50 million first lien superpriority revolving credit agreement with Angelo, Gordon Energy Servicer, LLC, as administrative agent and the lenders party thereto (the “Revolving Credit Agreement”). The Company expects to use any future borrowings under the Revolving Credit Agreement to finance working capital and capital expenditure needs.
The Company’s obligations under the Revolving Credit Agreement are guaranteed by all of the subsidiaries that guaranty the Company’s 8.375% First Lien Notes due 2023 (“First Lien Notes”) and 11.0/12.0% Second Lien PIK Notes due 2024 (together, the “Notes”).
The Revolving Credit Agreement is secured by a sole first-priority lien on the Company’s and the guarantors’ accounts receivable and a shared first-priority lien (with holders of the First Lien Notes), on all assets serving as collateral under such First Lien Notes, with a superpriority right to repayment ahead of other first lien holders in an enforcement action.
The facility represents a portion of the Company’s permitted indebtedness capacity under the Indentures governing the Notes while preserving other permitted indebtedness capacity, such as the ability to incur up to $50 million with respect to a capital lease facility or to incur up to $50 million through use of our general indebtedness basket, which may be secured.
Pacific Drilling CEO Bernie Wolford commented, “We are pleased to partner with Angelo Gordon for this three-year $50 million facility. As we continue to see the market for high-specification drillships improve, this facility allows us the financial flexibility to take advantage of new opportunities.”
Angelo Gordon Head of Energy Todd Dittmann commented, “We are very excited about working with Pacific Drilling and its industry-leading management team, to provide important access to capital that in combination with the Company’s top tier clients, young fleet and safe, efficient and reliable portfolio of drilling services, should create meaningful value for all stakeholders.”
About Pacific Drilling
With its best-in-class drillships and highly experienced team, Pacific Drilling is committed to exceeding our customers’ expectations by delivering the safest, most efficient and reliable deepwater drilling services in the industry. Pacific Drilling’s fleet of seven drillships represents one of the youngest and most technologically advanced fleets in the world. Pacific Drilling has principal offices in Luxembourg and Houston. For more information about Pacific Drilling, including our current Fleet Status, please visit our website at www.pacificdrilling.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20200210005243/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
TNG Digital and EPOS Launch EPOS360 and EPOS360 BlueTap in Malaysia to Help Local SMEs Grow with AI and Unique Payment Capabilities15.1.2026 11:23:00 CET | Press release
EPOS360, an industry-first all-in-one digital and payments solution, launches as a mini-programme within TNG eWallet, enabling Malaysian SMEs to easily access AI-powered growth tools to engage over 25 million TNG eWallet usersTNG Digital introduces EPOS360 BlueTap, Malaysia’s first tap-to-pay experience using TNG eWalletThrough EPOS, Ant International will make significant strides to empower SME digitalisation, leading the charge for its SME inclusion and growth strategy TNG Digital Sdn. Bhd. (“TNG Digital”), the operator of Malaysia’s leading digital financial services and lifestyle app, TNG eWallet, and EPOS, the all-in-one SME transformation platform of Ant International, have jointly announced the launch of EPOS360 in Malaysia, with a suite of AI-powered growth tools and unique payment capabilities to support the digitalisation of Malaysian businesses, particularly SMEs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260
UK CfD AR7 Results Signal New Realities for Offshore Wind Economics Ahead of AR8 — Aegir Insights15.1.2026 10:38:00 CET | Press release
The UK government yesterday published the results of the highly anticipated Contracts for Difference (CfD) Allocation Round 7 (AR7), highlighting both sustained appetite for UK offshore wind and the growing complexity of delivering competitive, bankable bids. The allocation round awarded a record 8.4 GW of offshore wind capacity across eight projects after the government increased the budget during the process. Almost all capacity (8.2 GW) was allocated to fixed-bottom offshore wind, enabling six large-scale projects to move forward and strengthening the UK’s deployment pipeline towards 2030. However, the outcome also revealed a large degree of project concentration, with partial or full ownership of five of the six awarded fixed-bottom projects held by a single developer. In a sector still recovering from cost and delivery risk, AR7 represents a positive outcome and signals an industry beginning to recalibrate under the right support framework. “The AR7 results provide important signa
OPEX® Corporation Presented with Multiple DM Awards by Document Manager Magazine15.1.2026 10:00:00 CET | Press release
OPEX® Corporation, a global leader in Next Generation Automation providing innovative solutions for warehouse, document and mail automation, has been recognized by Document Manager magazine with multiple DM Awards. At the 2025 awards ceremony held recently in London, OPEX was named the winner in two categories―Imaging Product of the Year: High Volume and Hardware Product of the Year―for its Falcon+® document imaging solution. OPEX also received runners-up accolades, in partnership with Iron Mountain, in the category of Project of the Year: Public Sector, for their NHS Medical Scanning project. “OPEX is honored to receive such prestigious recognition from Document Manager magazine,” said Alban Collas, Director of EMEA Operations, OPEX. “Our team is committed to developing solutions that enable clients to transform how business is conducted. For our imaging solutions to be recognized in this way means so much to us. We’re especially pleased that the DM Awards honored our partnership with
NTT DATA Recognized as a Global Top Employer for Third Consecutive Year15.1.2026 09:00:00 CET | Press release
NTT DATA, a global leader in AI, digital business and technology services, today announces it has been certified as a Global Top Employer for 2026 by the Top Employers Institute. Recognized for the third year in a row, this prestigious honor places NTT DATA among a select group of just 17 organizations worldwide honored for consistently delivering a high-performing people strategy across its global operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260115418660/en/ NTT DATA recognized as a Global Top Employer In addition to its global recognition, NTT DATA has also earned four Top Employer 2026 regional seals and 37 country and region seals across North America, Latin America, Asia Pacific, Europe and Africa. The Global Certification is the highest level of recognition offered by the Top Employers Institute and underscores NTT DATA’s ability to align its leadership, leverage data-driven insights and apply validated b
SAP and Syngenta Announce Partnership to Scale AI-Assisted Agriculture15.1.2026 09:00:00 CET | Press release
SAP SE (NYSE: SAP) and Syngenta, a global leader in agricultural innovation, today announced a multi-year strategic technology partnership to accelerate AI-assisted innovation across Syngenta’s global operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260115682130/en/ Jeff Rowe - CEO of Syngenta Group (left) and Christian Klein - CEO of SAP (right) The partnership will embed artificial intelligence at the core of Syngenta’s enterprise, modernizing operations and enabling accelerated innovation through advanced data analytics across the business — from manufacturing and supply chain to grower-facing products and services. Agriculture continues to navigate challenges driven by climate variability, supply chain complexity, and global uncertainty. By deploying AI-assisted tools enterprise-wide, this partnership positions Syngenta to meet the challenge of feeding a projected 10 billion people by 2050, while unlocking fast
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom