Sevan Driller: Newbuild moving on with fresh equity.
Sevan raises $180m for newbuilds
Sevan Marine has raised Nkr1.1 billion ($180 million) through a private placement to fund the construction and operation of several newbuild drilling and production units.
The proceeds will be used to complete the construction, outfitting and commissioning of Sevan Driller, fund the operations of the drilling unit and Sevan Voyageur floating production, storage and offloading vessel.
The remaining cash will fund further costs on Sevan’s fourth and fifth FPSOs and any costs incurred if Sevan decided not to pursue the second and third drilling units.
The private placement was managed by Pareto Securities AS and SEB Enskilda AS. More than 137 million shares will be issued at Nkr8 a share.