Petroleum Geo-Services to establish new 800 mln usd credit facility |
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Published
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Tue, 05 Jun 2007 09:41
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OSLO (Thomson Financial) - Petroleum Geo-Services ASA said it is seeking to establish a new 800 mln usd credit facility to repay existing facilities and fund a special 300 mln dividend, announced earlier this year.The Norwegian seismic group said the senior secured credit facility would consist of an eight-year 500 mln usd loan and a five-year 300 mln revolving credit facility.PGS said it expects the process to be completed 'before the summer'.alastair.reed@thomson.comar/slmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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