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
Azafaros Announces Publication of Phase 2 RAINBOW Study Data for Nizubaglustat in Molecular Genetics and Metabolism Journal5.6.2026 07:00:00 CEST | Press release
Phase 2 RAINBOW study data showed that treatment with nizubaglustat in patients with GM2 gangliosidosis (GM2) and Niemann-Pick type C disease (NPC) reduced disease progression and seizure burdenTopline results from the study announced in 2024 demonstrated that nizubaglustat was safe and well tolerated, with encouraging signs of efficacyThe published data further supports the two ongoing registrational Phase 3 studies with nizubaglustat in GM1/GM2 and NPC Azafaros, a private company building a portfolio to become a leader in lysosomal storage disorders (LSDs), focused on addressing neurological symptoms, today announced the publication of clinical data from its Phase 2 (RAINBOW) study in the peer reviewed journal, Molecular Genetics & Metabolism. The published manuscript reports efficacy, safety, pharmacokinetic and pharmacodynamic data which evaluated nizubaglustat in patients with genetically confirmed GM2 gangliosidosis and NPC. As previously stated in the topline results announcemen
K-Startup Grand Challenge 2026: Korea's Full-Cycle Launchpad for Global Startups5.6.2026 03:00:00 CEST | Press release
KSGC 2026 provides end-to-end support - from market entry to sustainable growth - positioning Korea as the gateway for Asia expansion South Korea’s Ministry of SMEs and Startups (MSS) has opened applications for the K-Startup Grand Challenge (KSGC), the country’s premier government-backed acceleration program for international startups targeting Korea and Asia. Since 2016, KSGC has attracted 21,537 applicants from more than 100 countries, among the world's most recognized inbound programs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604794426/en/ South Korea’s Ministry of SMEs and Startups (MSS) has opened applications for K-Startup Grand Challenge 2026, a government-backed global startup acceleration program providing end-to-end support for international startups (Image: KSGC) A Full-Cycle Acceleration Journey Unlike conventional programs that focus on a single moment of market entry, KSGC 2026 guides startups from ma
Empire State Building Observation Deck Celebrates Soccer with World’s Most Iconic Soccer Jersey Exhibit, Custom ESB Jerseys, Player Visits, Lightings, and More4.6.2026 23:46:00 CEST | Press release
The Empire State Building Observation Deck (ESB) – the #1 Attraction in the United States – today announced further 2026 programming for soccer fans in New York City with the world’s most iconic jersey collection from the Classic Football Shirts (CFS) vault, a limited-edition ESB x CFS jersey, official merch giveaways, and special lightings. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260604370013/en/ Empire State Building Observation Deck Celebrates Soccer with World’s Most Iconic Soccer Jersey Exhibit, Custom ESB Jerseys, Player Visits, Lightings, and More “As the world descends upon New York City for this anticipated global soccer event, fans can visit the Empire State Building Observation Deck for Manhattan’s best skyline views and a one-of-a-kind soccer exhibit,” said Dan Rogoski, observatory general manager. “International and American soccer fans can extend the celebration off the pitch at the #1 Attraction in the
Vycellix to Provide Universal Cell Cancer Therapy Progress Reports at Upcoming Investor & Partnering Meetings4.6.2026 20:15:00 CEST | Press release
- June events include USA trade mission to Norway (Oslo), the EHA Annual Meeting (Stockholm) and BIO International Convention (San Diego) Vycellix, Inc., a biotechnology company developing next-generation allogeneic natural killer (NK) cell-based therapies designed to overcome the risk of immune rejection and redefine functional persistence with durability, today announced the Company will attend a series of upcoming investor and partnering meetings to share progress reports on the Company’s universal cell therapy platforms and product candidates targeting multiple myeloma, acute myeloid leukemia and urothelial cancers. Vycellix is attending: June 8-9: U.S. Department of Commerce Certified Trade Mission to Norway in Oslo June 11-14: European Hematology Association (EHA) 2026 Congress in Stockholm June 22-25: BIO International Convention in San Diego (Florida Pavilion, Booth# 1319) To request a meeting with Vycellix at any of these events, please contact Doug Calder at dcalder@vycellix.
Sodali & Co Appoints Fabio Bianconi as Head of Italy4.6.2026 19:15:00 CEST | Press release
Sodali & Co, the leading global capital markets-centric stakeholder advisory firm, today announced the appointment of Fabio Bianconi as Head of Italy, effective immediately. Fabio succeeds Andrea Di Segni, who will transition into a new role as Senior Relationship Advisor, where he will continue to support key client relationships and strategic initiatives across the firm. Fabio brings deep experience, strong client relationships, and a track record advising on complex mandates in the Italian market. He will lead Sodali’s continued growth and development in Italy, building on the firm’s established position in the region. Aneliya Crawford, Chief Partnerships Officer & Global Head of Shareholder Advisory of Sodali & Co, said: “Andrea has played a central role in the evolution of Sodali over more than two decades, helping establish the firm as a trusted global advisor in corporate governance and shareholder engagement. He built our Italian business into a leader in the market, as reflect
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