Ship Finance: Record Breaking Transaction Is Impressive in Today's Market - trackseekingalpha

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Ship Finance: Record Breaking Transaction Is Impressive in Today's Market
Sep 18, 2008 08:27 AM UTC

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Via Long Investment Ideas from Seeking Alpha:

Ship Finance International Ltd. (SFL) has entered into a purchase then lease back of two deep water drill rigs with Seadrill Ltd. (SDRLF.PK). (Press Release)

The total purchase price of the rigs is $1.7 billion with SFL contributing $300 million and obtaining financing for the $1.4 billion balance. Of the $1.4 billion note, Ship Finance will only be liable for $100 million. The leases to Seadrill will be 15 year bareboat charters.

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