A Review of the Nigerian Energy Industry

Sea Truck secures $250m facility from Nigerian bank

Sea Truck and Access bank personnel after sealing a $250 million facilityIke Amos
16 November 2014, Sweetcrude, Lagos – Sea Truck Groups, an international group of companies offering offshore installation, accommodation and support services to the oil and gas industry worldwide has secured a $250 million credit facility from a Nigerian bank, Access Bank Plc.
According to a statement by the company, President/Chief Executive Officer, Sea Truck Group, Jacque Roomans commended the bank for the facility and expressed his gratitude to the Group Managing Director/Chief Executive Officer, Access Bank Plc, Mr. Herbert Wigwe, for arranging the signing ceremony and for the successful close of the transaction. 
He said, “The manner with which Access Bank handled this transaction is highly commendable. This is a demonstration of how far the Bank has come overtime. Sea Truck Group is proud to associate with Access Bank and will not hesitate to build on this existing relationship. I admonish other financial institutions to emulate Access Bank.”
Also speaking, Herbert Wigwe, highlighted the capacity of the Bank to undertake deals of this magnitude, saying that the bank has recorded commendable expansion and growth in the last decade.
He said, “This has positioned the bank within the top five banks in the country. With regards to our regional spread, Access Bank is currently in seven countries inclusive of the United Kingdom and now has an office in China with plans to establish presence in Dubai next year.”
Wigwe expressed his appreciation to Sea Truck Group for the opportunity afforded the bank, saying that Sea truck Group is a company that is dear to its heart.
“We will always support the company in its dealings, as we are confident that this mutually beneficial relationship will provide the backbone for future more robust dealings,” he said.
Elias Igbinakenzua, Executive Director, Corporate and Investment Banking, Access Bank, in describing the deal said that Access Bank’s capacity to support big businesses is never in doubt. “In our bid to stimulate growth in the economy, we have established first class relationships with corporations and multi–nationals to position us to better support our customer’s businesses,” he added.
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