Beal Bank USA wins Marine Money Deal of the Year Award for 2024

Beal Bank USA has announced it has received the Marine Money Offshore Bank Debt Deal of the Year Award for 2024.

In February 2024, Beal Bank USA provided an initial $275,000,000 financing to Eldorado Drilling of Oslo, Norway, for the acquisition and upgrade of the 7th generation drillship, Atlantic Zonda. In December 2024, Beal Bank USA and El Dorado mutually agreed to increase the commitment by an additional $275,000,000, for a total of $550,000,000. A portion of the incremental commitment was used to acquire the 7th generation drillship, West Draco.

Farzin Dinyarian, Head of Oil & Gas for Beal Bank USA's wholly owned commercial lending subsidiary CSG Investments, Inc., said, "We are proud to be named Marine Money's Offshore Bank Debt Deal of the Year. This is the second consecutive year we have won one of their prestigious awards and it demonstrates our ability to be thoughtful lenders, particularly in the oil & gas sector."

Andy Longhurst, Head of Shipping for CSG Investments, Inc., adds, "After winning Marine Money's Jones Act Deal of the Year for 2023, we are grateful to add this year's Offshore Bank Debt Deal of the Year. The recognition of our work in the industry proves that we are committed to the maritime space and are ready to expand our presence when the right deal comes along."

Beal Bank USA continues to provide capital to companies supporting world oil & gas production.