Chicago, Oct. 27 – Mime Petroleum AS sold a $225 million offering of 10¼% five-year senior secured notes, according to market sources and a release.
The notes were expected to price with a discount in the range of 97 to 97.5.
ABG Sundal Collier ASA, DNB Markets and Pareto Securities AS are the joint lead managers.
The notes come with 2.5 years of call protection.
The Oslo-based hydrocarbon development and production company plans to use the proceeds to refinance its outstanding reserve-based lending facility and its NOK 300 million MIME01 PRO bonds in full, as well as to finance capital expenditures related to the Balder Future redevelopment.
| Issuer: | Mime Petroleum AS
|
| Issue: | Secured bonds
|
| Amount: | $225 million
|
| Tenor: | Five years
|
| Bookrunners: | ABG Sundal Collier ASA, DNB Markets and Pareto Securities AS
|
| Coupon: | 10¼%
|
| Call features: | 2.5 years
|
| Trade date: | Oct. 27
|
| Settlement date: | Nov. 10
|
| Price talk: | Discount of 97 to 97.5
|
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