EDC secures fund for latest Caspian rig

Eurasia Drilling Co. (LSE:EDC) has secured a five-year loan facility of $227 million arranged by UniCredit Bank.

Offshore staff

MOSCOW – Eurasia Drilling Co. (LSE:EDC) has secured a five-year loan facility of $227 million arranged by UniCredit Bank.

Richard Anderson, EDC’s CFO, said the funds would be largely used to help finance construction of thejackup drilling rigMercury to service the company’s offshore operations in the Caspian Sea.

1/18/2013

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