Oil & Gas closes deal with Allseas Holding

A Senior Secured Facility was closed with Allseas Holdings. Allseas, founded in 1985 and having its corporate head office in Switzerland, is a global leader in offshore pipeline installation and subsea construction. The company owns a versatile fleet of six specialised pipelay and support vessels. Its flagship, Solitaire, is the largest pipelay vessel in the world and has achieved lay speeds in excess of 9 km a day, can lay pipelines up to 60 inches, and to a depth of 2.8 km. Allseas has executed many large and complex projects worldwide, like the installation of an important part of the Nord Stream pipeline in the Baltic Sea.

Allseas is currently constructing Pieter Schelte, a 382 m long, 117 m wide platform installation / decommissioning and pipelay vessel. Delivery is expected at the end of 2013.