Secured Research | Equipment Finance Originator | Monitor | Monitor Suite | Converge | STRIPES Leadership
No Result
View All Result
ABF Journal
Forward for Specialty Finance
SUBSCRIBE
Lender & Services Directory
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
  • Recruiting
  • Events
  • Advertise
  • Contact Us
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
  • Recruiting
  • Events
  • Advertise
  • Contact Us
No Result
View All Result
ABF Journal
No Result
View All Result
Home News

Sparebank 1 Closes $16MM Facility for SeaBird Exploration

bynadine
February 20, 2020
in News

SeaBird Exploration has entered into a multi-U.S. dollar $16 million three-year secured credit facility with Sparebank 1.

The proceeds from the loan will be used to repay the SBX04 bond loan expiring in June, and to outfit the “Fulmar Explorer” for seismic operations. The outfitting project will commence in Q1/20 with an expected duration of three months.

The company has signed a two-year, plus 2×1 year options, “pay as you work” flexible charter agreement with Uksnøy for the 2007-built Geo Barents. The vessel will be equipped for source, 2D and niche 3D work with expected availability ultimo March. The company will begin marketing the vessel immediately for work commencing in April or later.

Furthermore, the company has decided to decommission the 1985-built Osprey Explorer and recycle the in-sea seismic equipment to the Geo Barents. A final decision on the Harrier Explorer will be taken well before the next special survey.

Through these initiatives, the company will have an upgraded fleet of six owned and chartered vessels, enabling the company to offer its clients a modern and competitive fleet in its industry segments. Furthermore, the initiatives will allow the company to operate with a more flexible cost base.

SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry.

Previous Post

Fair Square Financial Completes $300MM Credit Card Securitization

Next Post

Sidley Names Meléndez Chief Diversity Officer

Related Posts

ABL vs. Cash Flow Lending: The Convergence of Structures in Middle Market Deals
News

Middle Market Debt Weekly: Fed Holds Steady as Middle East Conflict Reshapes Rate Outlook, Private Credit Redemption Wave Deepens & Oil Shock Tests Borrower Resilience

March 23, 2026
Advanced Power Closes $100M Corporate Credit Facility
Deal Announcements

Fervo Energy Secures $421MM in Non-Recourse Project Financing for Cape Station

March 23, 2026
News

Treville Closes Inaugural Capital Solutions Fund

March 23, 2026
Deal Announcements

Assembled Brands Partners with Swag Golf to Fuel Global Omnichannel Expansion

March 23, 2026
Deal Announcements

CB&I Upsizes Credit Facility to $400MM with Bank Syndicate

March 23, 2026
Wingspire Capital Provides Over $500MM in Corporate Finance Commitments in H1/25
News

Eversheds Sutherland Welcomes Young as Finance Partner in Texas

March 23, 2026
Next Post

Sidley Names Meléndez Chief Diversity Officer

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

The Covenant Divide: Why Financial Protections Are Holding Firm in the Lower Middle Market

Acquisition Financing in the Middle Market: The Shift to Alternative and Specialty Debt Solutions

merger and acquisition business concept, join company on puzzle pieces, 3d rendering

byLisa Rafter
March 13, 2026
ShareTweetSend

About Us

For over 50 years, RAM Holdings’ brands have led the commercial finance industry in publishing, talent development, research and events. ABF Journal’s audience is comprised of as many as 18,000 specialty finance industry executives, private equity investors, investment bankers, advisors, service providers and more.

Our Brands

  • Secured Research
  • Equipment Finance Originator
  • Monitor
  • Monitor Suite
  • Converge
  • STRIPES Leadership

 

Learn More

  • Advertise
  • Magazine
  • Contact Us

Newsletter

Driving specialty finance forward for decades with insights, recognition and deals. Sign up now.

SUBSCRIBE >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • People
    • Economy
    • All News
  • Deals
  • Features
  • Magazine
    • Magazine Issues
    • Nominations
  • Events
  • Advertise
  • Contact Us
Provider Directory >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years