LogIn LogOut

Abu Dhabi's Offshore Service Firm ZMI Secures up to $500M Financing Facility

January 11, 2022

Illustration - A ZMI jack-up - Image by Capt. Tony Powell/MarineTraffic.com
Illustration - A ZMI jack-up - Image by Capt. Tony Powell/MarineTraffic.com

 Abu Dhabi's offshore marine services company ZMI Holdings said on Tuesday it had signed and closed a new senior secured financing facility of up to $500 million.

It will help ZMI invest further in its growth markets, and provide committed and uncommitted facilities that can be used to make additional acquisitions and capital expenditure, the company said in a statement.

The facility consisted of a number of debt instruments, including a bridge facility provided by Goldman Sachs, alongside senior syndicated facilities provided on both conventional and Islamic Ijara financing basis.

The syndicate includes multiple regional and UAE lenders.

The deal would allow for the consolidation of the group's liabilities through refinancing of seven bilateral facilities and leases into one security pool, ZMI said.

ZMI Holdings is a services and solutions owner and operator of a purpose-built fleet of jack-up barges and complementary offshore supply vessels and subsea services. 

(Reporting by Saeed Azhar; Editing by Rashmi Aich)



Current News

ONGC Inks Deal with ExxonMobil for Deepwater Exploration in India

ONGC Inks Deal with ExxonMobil for Deepwater Exploration in India

Shell's Giant Prelude FLNG Unit to Remain Shut for Longer as Pay Dispute Continues

Shell's Giant Prelude FLNG Unit to Remain Shut for Longer as Pay Dispute Continues

Magseis Fairfield Firms Up SE Asia OBN Survey Deal

Magseis Fairfield Firms Up SE Asia OBN Survey Deal

FEED Contract Awarded for Ulsan Gray Whale 3 Floating Wind Farm in S. Korea

FEED Contract Awarded for Ulsan Gray Whale 3 Floating Wind Farm in S. Korea

PTTEP Restarts Zawtika Gas Flows to Thailand After Pipeline Fixed

PTTEP Restarts Zawtika Gas Flows to Thailand After Pipeline Fixed

Dayang Pens Deal with Shell for Dayang Cempaka Vessel

Dayang Pens Deal with Shell for Dayang Cempaka Vessel

US Says India Hid Russian Origin of Fuel Shipped to US

US Says India Hid Russian Origin of Fuel Shipped to US
photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com