Pacific Drilling gets $50 million first-lien super-priority revolver

By Sarah Lizee

Olympia, Wash., Feb. 10 – Pacific Drilling SA entered into a $50 million three-year first-lien super-priority revolving credit agreement with Angelo Gordon Energy Servicer, LLC as administrative agent, according to a press release.

The company expects to use any future borrowings to finance working capital and capital expenditure needs.

The company’s obligations under the revolver are guaranteed by all of the subsidiaries that guaranty the company’s 8 3/8% first-lien notes due 2023 and 11/12% second-lien PIK notes due 2024.

Pacific Drilling is a Luxembourg-based operator of drillships.

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