Reference is made to the announcement on 19 November 2019 regarding a contemplated bond issue by OKEA. The Company has announced 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.
An updated credit investor presentation has been published on the Company’s website.
DNB Markets, a part of DNB Bank, acted as Global Coordinator and Joint Bookrunner, and SpareBank 1 Markets acted as Joint Bookrunner in connection with the bond issue.