Archer Limited (the “Company” and together with its subsidiaries, the “Group”) has mandated Arctic Securities, DNB Markets and Pareto Securities, as Joint Bookrunners, Sparebank 1 Markets as Joint Lead Manager and Fearnley Securities as Co-Managers, to arrange a series of fixed income investor meetings commencing January 30, 2025.
A new 5-year USD 400 million senior secured bond issue by the Company's subsidiary Archer Norge AS may follow, subject to inter alia, market conditions. Net proceeds from the contemplated bond issue will be used to refinance existing debt of the Group and for general corporate purposes.
In conjunction with the contemplated bond issue, the Company will establish a USD 75 million revolving credit facility and USD 15 million guarantee facility, both of which will rank super senior to the bonds and is subject to final documentation. The super senior facilities will be provided by DNB Bank ASA and SpareBank 1 Sør-Norge ASA.
