Tender offer - partial repurchase of own bonds
(Thomson Reuters ONE) -
Stavanger, 30 November 2011: Norwegian Energy Company ASA (the "Company") has
today mandated Arctic Securities ASA and Pareto Securities AS to repurchase for
cash up to NOK 250 million in combined principal amount in the two bonds NOR03
(ISIN: NO 0010548431) and NOR 07/12 6.00% Convertible Bond (ISIN: NO
0010368830) (the "CB" and together the "Bonds").
The buy-back offer will be at the following prices (the "Offer"):
- NOR03: 97.00 - 100.00 per cent of par value plus accrued
interest
- CB: 97.00 - 100.00 per cent of par value plus accrued
interest
The Offer will take place as a Dutch auction whereby the lowest tendering prices
with sufficient volume within the ranges described above will determine buy-back
prices for each bond.
All orders must be placed on 0.25 intervals from par (i.a. 97.25 or 97.50 but
not 97.125)
The Offer commences at 2.00 pm on 30 November 2011 and expires at 5.30 pm CET on
30 November 2011, unless the period for the tender offer is extended, amended or
earlier terminated. In order to be eligible to receive the repurchase price,
holders of the Bonds (the "Bondholders") must validly tender their Bonds by
5.30 pm CET on 30 November 2011.
The result of the auction and allocation will be announced by 09.00 am CET on 1
December 2011, which will also be the trade date. Settlement procedure as
customary for bond trades will be applied (T+3).
Subject to applicable law and as provided in the Offer, the Company may, at its
sole discretion, extend, re-open, amend, waive any condition of or terminate the
Offer at any time. Details of any such extension, re-opening, amendment or
termination will be announced as soon as reasonably practicable after the
relevant decision is made.
There shall be no agreement made between the Company and a Bondholder to
repurchase tendered Bonds until the Company communicates a notice through the
Oslo Stock Exchange.
Bondholders who wish to accept the offer should contact:
- Arctic Securities Fixed Income Sales at +47 21 01 31 91
- Pareto Securities Fixed Income Sales at +47 22 87 87 70.
For further information, please contact:
Rebekka Glasser Herlofsen, CFO (+47 916 60 269)
Kjetil Bakken, VP 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#1567611]
Unternehmensinformation / Kurzprofil:
Datum: 30.11.2011 - 14:00 Uhr
Sprache: Deutsch
News-ID 92563
Anzahl Zeichen: 3236
contact information:
Town:
Stavanger
Kategorie:
Business News
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"Tender offer - partial repurchase of own bonds"
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