Boa Offshore to distribute proceeds to holders of two bonds Dec. 1

By Caroline Salls

Pittsburgh, Nov. 27 – Boa Offshore AS will make a NOK 3.9 million payment to holders of its senior unsecured bond issue 2013/2018 and a NOK 3.81 million payment to holders of its subordinated callable bond issue 2015/2018, according to notices released by bond trustee Nordic Trustee AS.

The payments, which will be made on Dec. 1 to bondholders of record as of the close of business on Nov. 29, will be made using proceeds from an asset realization.

The trustee said no accrued interest will be settled in connection with the asset realization, but will be attributed to the remaining bonds on the next interest payment date in the form of additional bonds.

The fixed rate for the 2013/2018 bonds interest period to be settled on Dec. 18 will be 0.39244%, the notice said. The fixed rate for the subordinated bonds interest period to be settled on Jan. 17 will be 0.37232%.

There are currently NOK 430.24 million of the 2013/2018 bonds outstanding and NOK 61.39 million of the subordinated bonds outstanding.

Boa provides offshore services worldwide and is based in Trondheim, Norway.

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