Ezion eyes US$80.3m deal from an Asian-based oil company
It'll be funded through bond issue.
According to OCBC Investment Research, Ezion Holdings (Ezion) announced that it has received a letter of intent with a contract value of about US$80.3m over a four-year period to provide a service rig for an Asian-based national oil company.
Here's more:
The unit is expected to be deployed and working in SE Asian waters by end-2013 after refurbishment and conversion. Unlike previous projects, this project will be funded through a bond issue; the total project cost is US$60m (US$40m asset cost, US$20m refurbishment, conversion). Indeed, we understand that Ezion has launched S$110m of six-year bonds at 4.70%.