By William Gullotti
Buffalo, N.Y., Nov. 22 – BW Offshore Ltd. completed issuing NOK 1 billion of floating-rate senior bonds with a five-year tenor, according to a notice on Wednesday.
The coupon is three-month Nibor plus 500 basis points.
Danske Bank and DNB Markets acted as joint lead managers.
Proceeds will be applied toward refinancing the company’s NOK 900 million senior bonds maturing on Dec. 4 , 2023 (ISIN: NO0010869019).
In conjunction with the issue, the company repurchased NOK 159.5 million of the 2019-issued floating-rate bonds.
BW Offshore provides floating production services to the oil and gas industry. The company has headquarters in Singapore and Oslo.
| Issuer: | BW Offshore Ltd.
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| Issue: | Senior bonds
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| Amount: | NOK 1 billion
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| Tenor: | Five years
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| Lead managers: | Danske Bank and DNB Markets
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| Coupon: | Three-month Nibor plus 500 bps
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| Issue date: | Nov. 22
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