Pursuits
Oil Rig Squeeze Puts DNB on Alert to Help Billionaire Fredriksen
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DNB ASA is willing to help billionaire John Fredriksen’s Seadrill Ltd. and other loan clients that are being squeezed by a 40 percent plunge in rental rates on oil rigs.
Norway’s biggest bank is prepared to defer loan-repayment installments for drillers such as Seadrill. The bank is looking specifically at helping companies with the most advanced rigs, said Harald Serck-Hanssen, executive vice president for Large Corporates and International, at the Oslo-based lender.