Sete gets US$1.25 billion credit facility

Bocater, Camargo, Costa e Silva Advogados in Brazil and Davis Polk & Wardwell LLP in the US have helped the international arm of Brazilian oil rig contractor Sete obtain a US$1.25 billion capital call credit facility, which will be used to make inter-company loans to cover the costs of deep-water drilling rigs chartered to Brazil’s state energy company Petrobas.