Capital Drilling updates on refinancing arrangements
Source - SMW
Capital Drilling has announced that it has successfully refinanced its senior bank facilities for a further three years.
It said the new debt facility, which matures in December 2020, has been arranged through Standard Bank South Africa, with the commercial terms broadly consistent with those of the previous facility.
The facility, which bears interest at 5.75% above LIBOR, will provide funding to refinance all outstanding amounts under the Company's existing $15m revolving credit facility (reduced from an initial $30m).
At 1:03pm: (LON:CAPD) Capital Drilling Ltd share price was 0p at 36.5p