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OKEA holds fixed-income calls for dollar-denominated secured bonds
By Mary-Katherine Stinson
Lexington, Ky., Aug. 24 – OKEA ASA will hold fixed-income investor meetings starting Friday ahead of a potential three-year senior secured bond issue in an initial amount of $125 million, subject to market conditions, according to multiple notices.
DNB Markets and Pareto Securities AS are the joint lead managers and joint bookrunners, and Fearnley Securities AS is the co-manager.
Proceeds will be used to repay the company’s outstanding $120 million senior secured bond (ISIN: NO0010869175) at the prevailing call price.
In connection with the refinancing, OKEA has received a commitment from DNB Bank ASA for a new super senior revolving credit facility with a tenor of 2.5 years.
OKEA is a Trondheim, Norway-based oil and gas company.
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