Swissco is carried by a loan agreement with cash-rich energy sector investor Golden Arch on the rig construction cost for its first GustoMSC CJ46 design jack-up drilling unit with Rongsheng.
The loan is convertible into over 35 million Swissco shares on the delivery of the rig, but the offshore support vessel player reserves the right to repay the borrowings at an 8% annualised interest rate.
The
