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Okea Announces Successful Completion of $120m Bond Issue

Source: www.gulfoilandgas.com 11/27/2019, Location: Europe

Reference is made to the announcement on 19 November 2019 regarding a contemplated bond issue by OKEA ASA (the “Company”). The Company is pleased to announce the successful completion of a USD 120 million five-year senior secured bond issue with a coupon rate of 8.75 percent and an issue price of 99% of the nominal value. The bond issue attracted broad international investor interest.

The bond issue is expected to be settled on or about 11 December 2019, subject to customary conditions precedent. An application will be made for the bonds to be listed on the Oslo Stock Exchange.

The Company has repurchased USD 39.5 million of its outstanding USD 120 million senior secured bonds, with ISIN NO 001 0810062 (“OKEA01”). The remaining OKEA01 bonds will be called with settlement in December 2019.

DNB Markets, a part of DNB Bank ASA, acted as Global Coordinator and Joint Bookrunner, and SpareBank 1 Markets AS acted as Joint Bookrunner in connection with the bond issue.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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