By Paul A. Harris
St. Louis, June 4 - Oceanteam Power & Umbilical ASA announced in a press release that it has priced an NOK 800 million issue of Nibor plus 375 basis points three-year unsecured senior bonds.
Pareto Securities ASA was the manager.
The company's management and board of directors stated that the issue was placed with Norwegian and international bond investors and was oversubscribed.
Proceeds will be used to redeem the company's existing NOK 370 million secured bonds and for general corporate purposes.
The Bergen, Norway-based company lays and buries undersea power lines.
| Issuer: | Oceanteam Power & Umbilical ASA
|
| Amount: | NOK 800 million
|
| Maturity: | Three years
|
| Security description: | Unsecured bonds
|
| Manager: | Pareto Securities ASA
|
| Coupon: | Nibor plus 375 bps
|
| Settlement date: | June 18
|
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