Electromagnetic Geoservices to buy NOK 24 million bonds at 70 in offer

By Susanna Moon

Chicago, March 29 – Electromagnetic Geoservices ASA will buy back NOK 24 million of its senior callable bond issue 2013/2019 in the offer that ended at 10 a.m. ET on March 28.

Electromagnetic was offering to buy back the bonds at 70% of par, as announced on March 23.

After settlement on March 31, there will be NOK 246 million of the bonds left outstanding, according to a company update on Wednesday.

Electromagnetic is a Trondheim, Norway-based company that provides proprietary electromagnetic technology to support oil and gas companies in their search for offshore hydrocarbons.

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