GBI Secures USD 285M Loan Refinancing Deal

Gulf Bridge International (GBI) has finalised a loan refinancing deal that should allow the company to explore new business and investment opportunities and to further support its successful transformational journey.

Namely, the first privately-owned submarine cable system in the Middle East, has sealed QAR1 billion (US$285 million) loan refinancing deal with a financial house in Qatar and the Arabian Gulf.

Abdulla Al Rwaili, executive vice chairman and managing director of GBI, said: “The support extended from the financial community demonstrates confidence in our innovative business model and future investment plans. The added liquidity will further support our transformation by enabling sustainable growth and enhanced financial flexibility to launch new strategies for business expansion.”

Amr Eid, CEO of GBI, said: ”The loan refinancing initiative comes after the capital increase by GBI’s major shareholders in Q2 2016 that reflected their confidence and aspirations in GBI’s unique transformation into a true global service provider. This loan will be long-term and will accelerate our ability to pursue organic and inorganic business opportunities, across different geographies and verticals.”

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

More info

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OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

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Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

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