DALLAS, July 30, 2024 /PRNewswire/ — Beal Bank is pleased to announce that it has provided committed financing of $275,000,000 to acquire the 7th Generation Drillship Draco as an upsize to its existing loan, originated in February 2024, to Eldorado Drilling of Oslo, Norway.
Farzin Dinyarian, head of Oil & Gas for Beal Bank’s wholly-owned commercial lending subsidiary CSG Investments, Inc., said, “Beal Bank is excited to continue its relationship with Eldorado Drilling, a premier ultra-deepwater drillship company. The Draco is needed to support offshore drilling needs in the future. Beal Bank’s originating subsidiary, CSG, is proud to support Eldorado and offshore drilling companies.”
Andy Longhurst, head of Shipping for CSG Investments, Inc., adds, “Adding the Draco to their fleet of drillships …