Successfully Completed Bond Issue
Reference is made to the announcement on 15 November 2019.
BW Offshore Ltd has today successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023. Settlement of the new bond issue is scheduled for 4 December 2019. The existing NOK bonds have either been repurchased as part of the offering or will be called with settlement mid-January 2020.
In combination with the USD 297.4 million convertible bond issue announced on 5 November 2019, the new bond successfully concludes the company’s refinancing of its existing NOK bonds maturing between 2020 and 2022, totalling approximately USD 393 million including related cross currency swaps.
Danske Bank, DNB Markets, Nordea and Swedbank acted as joint lead managers for the bond issue.
For further information, please contact:
Ståle Andreassen, CFO, +65 97 27 86 47
Anders S. Platou, Head of Corporate Finance, +47 99 50 47 40
About BW Offshore:
BW Offshore is a leading provider of floating production services to the oil and gas industry. The company also participates in developing proven offshore hydrocarbon reservoirs. BW Offshore is represented in all major oil and gas regions world-wide with a fleet of 15 owned FPSOs. The company has more than 30 years of production track record, having executed 40 FPSO and FSO projects. BW Offshore is listed on the Oslo Stock Exchange
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.