Paragon Offshore Announces $300 Million Sale-Leaseback Agreement
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Paragon Offshore (PGN) Enters $300M Sale-Leaseback Agreement with SinoEnergy
June 4, 2015 6:37 AM EDTParagon Offshore (NYSE: PGN) announced that certain wholly owned subsidiaries of the company, which were part of the company's acquisition of Prospector Offshore Drilling S.A. ("Prospector"), have entered into a combined $300 million sale-leaseback financing facility with subsidiaries of SinoEnergy, a private investment firm registered in the British Virgin Islands. Net of fees and expenses, Prospector expects to receive net proceeds of approximately $292... More
