Milbank LLP advised the arrangers in connection with PGS ASA’s amendment and extension of its existing term loan B and revolving credit facilities. In connection with the transaction, PGS redeemed its $212 million aggregate principal amount outstanding of senior notes due 2020 and through a private placement of shares raised gross proceeds of NOK 849 million (approximately $91 million).
PGS ASA is a leading marine seismic survey and data processing company operating in all of the major oil and natural gas offshore basins in the world.
The Milbank team was led by London Global Leveraged Finance/Capital Markets special counsel Ana Grbec and partners Michael Bellucci and Apostolos Gkoutzinis with associates Faridat Arogundade, Darell Hayes and Eliza Biswas.
