A Specialist Investment Banking Model for Sourcing Capital and Giving Advice – Pareto Carves Out a Niche and Creates a Gateway in New York

For Pareto, it all starts with what you know and being Norwegian they are experts on industries such as shipping, oil services and E&P. In fact, their knowledge starts at the grassroots level through company and industry research and extends to asset brokerage for both ships and offshore drilling rigs. They know the players, understand industries and have global access to market intelligence. These factors together with a focused investment banking team and dedicated institutional sales force, both equity and fixed income, underlie their strength in deal origination and execution. As they say, they are “in the market” which is evidenced by three very different recent transactions. They played an important role in the Vantage Drilling bond and equity offerings and are advising Rowan on its acquisition of Skeie Drilling.
Continue Reading

Banking News

In other debt news, a Sevan Marine affiliate has taken out a $300 million senior debt project finance facility for the Sevan Voayageur. GE Energy Financial Services and GE Transportation Finance acted as mandated lead arrangers. Allen & Overy, in turn, advised GE on the transaction. The limited recourse financing will include both pre and post construction financing that will convert into a $300 million amortizing term loan following the delivery of the Sevan Voyageur to Oilexco in the North Sea, where it will begin five years of contracted employment. The Sevan Voyageur is an innova­tive cylindrical floating oil production, storage and offloading unit. This is not the first time Sevan, GE and Allen & Overy have worked together. The trio successfully completed a $400 million debt facil­ity for the Sevan Driller in 2007.

Continue Reading