TX-PACIFIC-DRILLING
10.2.2020 15:33:12 CET | Business Wire | Press release
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
Takeda Announces New Assignments of Directors and Appointment of Julie Kim as Representative Director, President and CEO24.6.2026 09:05:00 CEST | Press release
Board of Directors appoints Julie Kim as Representative Director, President & CEO following shareholder vote Announces new appointments and assignments of directors In the final step of its 18-month CEO transition, Takeda (TOKYO:4502/NYSE:TAK) today announced that Julie Kim was officially appointed Takeda’s Representative Director, President and Chief Executive Officer. During the 150th Annual General Meeting of Shareholders, which took place in Osaka, Japan, shareholders elected Julie as a new internal director to the Board of Directors. Following the vote and conclusion of the meeting, the Board of Directors appointed her as Representative Director, President & CEO. Upon conclusion of the meeting, former president & CEO Christophe Weber retired from the Company and the Board. Chair of the Board of Directors Meeting, Masami Iijima, commented: “On behalf of Takeda’s Board of Directors, I would like to congratulate Julie Kim on becoming Takeda’s President and CEO. The Board of Directors
LTM Joins Athena, a Chainguard-led Industry Coalition to Help Secure Open Source Software in the AI Era24.6.2026 08:30:00 CEST | Press release
LTM, the Business Creativity partner to the world’s largest enterprises, has joined Athena, a new industry coalition led by Chainguard, focused on protecting open source software from the rising threat of AI-driven vulnerabilities. Athena brings together leading organizations across the global software ecosystem to address an urgent challenge. As frontier AI models advance, they are increasingly capable of identifying novel vulnerabilities in open source software at machine speed, often faster than traditional disclosure and patching processes can respond. As AI accelerates both software development and the discovery of vulnerabilities, the window between a flaw being identified and being exploited has narrowed sharply. Athena is designed to close this gap through shared intelligence, coordinated action, and pre-disclosure remediation across the ecosystem. The coalition supports vulnerability management end to end, from discovery and analysis to patching, layered mitigations, and upstr
Over Half of Consumers Will Pay More for Brands That Are Transparent About AI Data Use, New Usercentrics Research Finds24.6.2026 08:30:00 CEST | Press release
52% of consumers globally will pay a 7% premium for AI transparency — rising to 73% in Germany. Almost half have already taken an action with a direct revenue consequence. AI transparency has become a commercial differentiator, and it's reshaping where brand revenue is won — or lost. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623804294/en/ Over half (52%) of consumers globally will pay more for brands that are transparent about how they use AI with their data at an average 7% premium. In Germany, that figure rises to 73% of consumers willing to pay a 9% premium, the highest of any market. The finding comes from the second annual State of Digital Trust 2026 Report, commissioned by Usercentrics, a leading data privacy technology company, and conducted by Sapio Research across 11,000 consumers in seven markets. The opportunity for brands that act is matched by the cost of inaction. Almost half (47%) of consumers surveyed
Ilkari Expands European Sovereign Infrastructure Operations With Integration of DC North in Croatia24.6.2026 08:00:00 CEST | Press release
Expansion strengthens Ilkari’s multi-region sovereign infrastructure footprint with EU-based operational capacity, DORA-aligned resilience and sovereign cloud capabilities Croatia's largest carrier-neutral 4 MW data centre, DC North, becomes part of Ilkari's European sovereign infrastructure operations The integration adds operational EU-based data centre capacity, carrier-neutral connectivity and sovereign cloud capabilities across Central and Eastern Europe Expansion enhances Ilkari’s ability to serve regulated, sovereignty-focused and data-intensive enterprise environments across Europe Ilkari, a multinational sovereign infrastructure provider, today announced the integration of DC North in Croatia into its European operations, expanding its sovereign infrastructure footprint across the European Union and strengthening its multi-region platform, which includes existing operations in Iceland and Colombia. This press release features multimedia. View the full release here: https://www
Tigo Energy Predict+ Forecasting Platform Helps YASNO Keep Energy Flowing in Ukraine24.6.2026 06:00:00 CEST | Press release
Advanced energy prediction platform, Predict+, enables Ukrainian utility to better maintain grid service through demand surges, highly variable weather, and infrastructure disruptions. Tigo Energy, Inc. (NASDAQ: TYGO) (“Tigo” or “Company”), a leading provider of intelligent solar and energy software solutions, today announced that Ukrainian electric utility, YASNO, is the latest enterprise-tier customer to deploy the Tigo Predict+ platform. The AI Energy platform empowers utility operators to adapt to real-world demand challenges as they balance renewable and baseload generation sources. Predict+ currently manages more than 650 GWh and delivers 97.5% forecast accuracy for utility customers. As the leading provider of electricity, gas, and energy-efficiency solutions in Ukraine, YASNO serves more than 2.5 million households in the Kyiv, Dnipropetrovsk, and Donetsk regions, as well as more than 64,000 business customers. YASNO uses the Predict+ platform in ways that go far beyond typical
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