WFW advises DIP lenders on US$500m DIP term loan credit agreement with Valaris plc13 October 2020
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Watson Farley & Williams (“WFW”) advised the Debtor-in-Possession (“DIP”) lenders in connection with the DIP lenders’ US$500m DIP term loan credit agreement with Valaris plc (“Valaris”), an offshore drilling services provider. WFW advised the DIP lenders on matters of Marshall Islands, Liberian, Thai and maritime law and also, through our formal law alliance in Singapore with Wong Tan & Molly Lim LLC, Singapore law.
The agreement was executed after receiving final approval to access the DIP term loan facility from the United States Bankruptcy Court for the Southern District of Texas.
Valaris is an offshore drilling service provider across all water depths and geographies. Operating a rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin.
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