Reference is made to the announcement dated December 6, 2010, regarding a contemplated offering of a NOK 500-700 million senior unsecured bond by Sevan Marine ASA.
The bond was completed on Friday December 10 with a placement of NOK 700 million (approximately USD 117 million) subscribed by Norwegian and international professional investors. The bond has a term of 4 years and carries an interest rate of 14.00%.
The net proceeds from the issue will be used for general corporate purposes.
First Securities AS and Pareto Securities AS acted as joint lead managers and book runners. Arctic Securities ASA, Fearnley Fonds ASA and ING Commercial Banking acted as co-managers.
Sevan Marine ASA is specializing in owning, operating and licensing FPSOs and drilling units, based on its patented cylindrical floater technology. Sevan Marine ASA is listed on Oslo Børs with ticker SEVAN.
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Source: Sevan Marine, December 13, 2010;