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OKEA holds fixed-income calls for dollar-denominated secured bonds
By Mary-Katherine Stinson
Lexington, Ky., April 25 – OKEA ASA will hold fixed-income investor meetings starting Thursday ahead of a potential four-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 Arctic Securities AS is a joint bookrunner.
Net proceeds will be used to fund planned investments related to the recently sanctioned Bestla (previously named Brasse) development and for general corporate purposes.
In connection with the refinancing, the company expects to increase its 2.5-year super senior revolving credit facility to $37.5 million from $25 million.
OKEA is a Trondheim, Norway-based oil and gas company.
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