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OKEA to redeem $120 million of secured bonds via new issue proceeds
By Mary-Katherine Stinson
Lexington, Ky., Aug. 24 – OKEA ASA intends to use the proceeds from a new three-year senior secured bond issue to redeem its outstanding $120 million senior secured bond (ISIN: NO0010869175) at the prevailing call price, according to multiple notices.
Fixed-income investor meetings will begin Friday for the new bond issue.
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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