By Sarah Lizee
Olympia, Wash., May 16 – DNO ASA announced in a Thursday press release that it priced $400 million of 8 3/8% five-year senior bonds.
The deal received strong investor demand across international markets and was oversubscribed, according to the company.
Danske Bank and Pareto Securities AS acted as joint lead managers and bookrunners with SpareBank 1 Markets AS as co-manager and bookrunner.
Proceeds will be used for general corporate purposes, including the buyback of its $400 million senior callable bond due 2020 and its $100 million 8% senior bond due 2023.
DNO is a Norwegian oil and gas operator focused on the Middle East and the North Sea.
| Issuer: | DNO ASA
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| Amount: | $400 million
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| Tenor: | Five years
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| Securities: | Senior bonds
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| Bookrunners: | Danske Bank and Pareto Securities AS as joint lead managers and bookrunners; SpareBank 1 Markets AS as co-manager and bookrunner
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| Coupon: | 8 3/8%
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| Announcement date: | May 16
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| Settlement date: | May 29
|
| Expected listing: | Oslo Stock Exchange
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