Ocean Rig seeks $1.35 billion senior term loan led by DNB and Nordea

By Sara Rosenberg

New York, Aug. 16 - Ocean Rig UDW Inc. is in the process of syndicating a $1.35 billion senior secured term loan, according to a 6-K filed with the Securities and Exchange Commission on Thursday.

DNB and Nordea are the lead banks on the deal.

The loan is expected to have both a commercial tranche and an export credit agency tranche.

Commitments for the commercial tranche have already been received.

Proceeds will be used to partially finance the company's drillship newbuilding hulls 1979, 2013 and 2032.

Ocean Rig is a Nicosia, Cyprus-based contractor of offshore deepwater drilling services.

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