Subsea services provider Mermaid said it has entered into a facility agreement with the Export-Import Bank of Thailand to loan up to USD 65 million.
With this deal Mermaid aims to to extend the financing two vessels the Mermaid Endurer and Mermaid Asiana, for a further period of five years with the same lender.
The loan will be applied to settle the indebtedness due to the lender under a previous credit facilities agreement in respect to the two above mentioned vessels and replacing that arrangement with the facilities instead.
The DSV Mermaid Endurer is a Norwegian purpose built DP2 dive support and light construction vessel, specially designed for operations in severe weather conditions such as the North Sea.
The DSV Mermaid Asiana is a purpose-built DP2 dive support and light construction vessel. This vessel is designed for operations in the Middle East and Asia-Pacific region.