Lifting Falcon Global higher in oil & gas industry

Corporate News -

NIBC joined forces with DNB Bank (New York offices) and Clifford Capital in Singapore to finance two offshore lift boats for new client Falcon Global LLC. The self-elevating, self-propelled vessels are commonly used to service and maintain offshore oil and gas platforms.

Dubai-based Falcon Global is a 50/50 joint venture between long-standing NIBC client Seacor Holdings and US lift boat specialist Montco Offshore. Our relationship with New-York listed Seacor, a global player in the offshore oil and gas industry, dates back to 2006, when we joined a consortium that provided it with a revolving credit facility.

Falcon Global LLC will use the USD 80,5 million senior secured loan to finance the construction and operation of the two lift boats, which it plans to deploy in the Middle East. The lift boats are currently being built at the Triyards shipyard in Vietnam, with expected delivery in the second quarter of 2016.

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