Delba, Schahin Ready Platform Financings

Offshore drilling platform concessionaire Delba Marítima, based in Rio, has launched a $488m Petrobras platform financing at Libor plus 237.5bp in the 3-year construction period and Libor plus 250bp in the 7-year post construction period. Abu Dhabi-based SPM is building the platform. The IDB is heard to be actively considering participating in an A-tranche loan, according to a banker on the deal. WestLB is leading and has secured four MLAs. Grupo Schahin is also going out to general syndication to raise $800m for two Petrobras platforms that will pay 237.5bp over Libor in the 3-year construction period and 162.5bp-200bp in the post construction period, depending on performance availability metrics. Bank meetings are being held in São Paulo and New York. The deal is joint-led by Mizuho, WestLB, Standard Chartered and Unicredit.