Noreco successfully completes bond issue
(Thomson Reuters ONE) -
Stavanger, 1 April 2011: Norwegian Energy Company ASA (Noreco, OSE: NOR) has
successfully completed a new 5 year senior secured bond issue. The net proceeds
from the bond issue will be used for (i) financing of Noreco's share of the
costs associated with the Oselvar development and (ii) other petroleum
activities on the Norwegian continental shelf.
The borrowing amount is NOK 600 million, split between a fixed rate tranche and
a floating rate tranche, with interest rates of 10.25% and NIBOR +6.00%,
respectively. Settlement date for the bond issue is expected to be 27 April
2011. An application will be made for listing of the bond issue on the Oslo
Stock Exchange.
First Securities and Pareto Securities acted as joint managers and SEB Merchant
Banking as co-manager of the bond issue.
For further information, please contact:
Rebekka Glasser Herlofsen, CFO (+47 916 60 269)
Kjetil Bakken, VP Strategy and Investor Relations (+47 91 889 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: NORECO via Thomson Reuters ONE
[HUG#1502818]
Unternehmensinformation / Kurzprofil:
Datum: 01.04.2011 - 17:23 Uhr
Sprache: Deutsch
News-ID 53090
Anzahl Zeichen: 1761
contact information:
Town:
Stavanger
Kategorie:
Business News
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"Noreco successfully completes bond issue"
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