Idan Ofer-backed Pacific Drilling has signed a $50m revolving credit facility that sees the lenders shoot to the top of the capital stack.
The New York-listed owner of seven drillships said the deal was hashed out with Angelo, Gordon Energy Servicer as administrative agent, with the funds providing working capital and helping with capital expenditure needs.
"We are pleased to partner with Angelo Gordon for this three-year $50m facility," said chief executive Bernie Wolford.
