Completed new bond issue

Atlantic Offshore AS has successfully raised a new senior unsecured bond issue with maturity May 2018. The first tranche will be NOK 400 million with settlement date 16 December 2013 (subject to completing all conditions precedent). The new loan will have a borrowing limit of NOK 550 million.
In conjunction with the bond issuance, Atlantic Offshore has bought back NOK 58.5 million of bonds in ATOFF01 (maturity June 2015) at price 106.80% of par value, and NOK 95 million in ATOFF02 (maturity March 2015) at price 105.75%.
Remaining amount outstanding in the existing bonds will be NOK 141.5 million in ATOFF01 and NOK 55 million in ATOFF02.
The company subscribed for and will be allocated NOK 21.5 million. The net proceeds from the bond issue will be used for general corporate purposes, and the company will consider buying back additional bonds in ATOFF01 and ATOFF02.
The new bond will be sought listed on the Oslo Stock Exchange.
Pareto Securities and SpareBank 1 SR-Bank Markets were managers for the bond issue.
Contacts:
CEO Roy Wareberg – +47 918 95 626
CFO Knut Kvinnsland – +47 901 25 896
 

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