Songa Offshore SE : USD 1,014 million loan faci...

Songa Offshore SE is pleased to announce that the documentation for the previously announced USD 1,014 million loan facilities for the financing of the first two Cat D drilling rigs, Songa Equinox and Songa Endurance, have been finalized and the loan agreements have been signed by all parties.

The new facilities are split into senior loans of USD 774 million and junior loans of USD 240 million and have an average amortization profile of 10.5 years. The junior loans include a pre-delivery tranche of USD 104 million. Drawdown of the pre-delivery tranche is expected to take place in early May 2014.

March 31, 2014
Limassol, Cyprus

For further information, please contact:
Jan Rune Steinsland, CFO ([phone])

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Songa Offshore SE via Globenewswire

HUG#1773164