Gulf Drilling International Has Finalized a $430-Million Loan Facility to Finance its Expansion Plan

摘要

Gulf Drilling International Limited (GDI) announced on 22 May that it had finalized a loan agreement for a credit facility of $430 million with a syndicate of three banks - Qatar National Bank (QNB), Samba Financial Group and International Bank of Qatar (IBQ). The loan is for a term of 10 years and four months and the funds will be used to finance GDI's $538-million expansion program, which calls for, among other things, the construction of two new jack-up platforms and two land drilling rigs, as well as the acquisition of a jack-up accommodation barge. With its current fleet of five jack-up platforms and four drilling rigs, GDI is set to become the leading drilling contractor in Qatar.