Atwood Oceanics amends loan, lifting accordion size by $200 million

By Sara Rosenberg

New York, Aug. 28 - Atwood Oceanics Inc. amended its credit facility, increasing the accordion feature to $550 million from $350 million, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

If the additional $200 million of the accordion is used, the company would have to pledge as collateral the Atwood Mako and the Atwood Manta, as well as the equity interests in the subsidiaries owning such rigs.

The amendment was completed on Aug. 24.

Nordea Bank Finland plc is the administrative agent on the deal.

Atwood is a Houston-based company focused on drilling and completion of exploratory and developmental oil and gas wells.

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