Norway’s DNO to buy back $200 million 8 3/8% bonds due 2024 on May 30

By Rebecca Melvin

Concord, N.H., May 11 – DNO ASA plans to redeem $200 million of its 8 3/8% bonds due May 29, 2024 (NO0010852643) in a partial redemption on May 30, according to a company release.

The bonds will be redeemed at 103.35 plus accrued interest, leaving $176,159,000 outstanding after the redemption.

DNO currently owns bonds issued under the bond loan in an amount of $23,841,000, all of which will be cancelled before the partial redemption is carried out.

Oslo-based DNO is an oil and gas operator focused on the Middle East and the North Sea. It is listed on the Oslo Stock Exchange. The company holds stakes in onshore and offshore licenses in the Kurdistan region of Iraq, Norway, Oman, Somaliland, Tunisia, the United Kingdom and Yemen.

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