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Aker Solutions hosts reverse Dutch auction for floaters due in July
Chicago, March 11 – Norway’s Aker Solutions ASA is conducting a reverse Dutch auction for its NOK 1.5 billion floating-rate bond issue due on July 25, 2022 (ISIN: NO0010814213), according to a press release.
DNB Markets and SEB are acting as managers of the buyback.
The managers will receive offers from potential selling holders of their desired volume and price on a confidential basis.
The company will decide whether to accept a certain amount of bonds up to an accepted price, or potentially even to reject all received offers.
The due date for selling offers is noon ET on March 15.
The company will decide on March 16 the highest price it will pay and the amount of bonds to be purchased, if any.
Cash settlement for accepted bonds, with interest, will be on March 18.
Bondholder offer forms are to be sent by e-mail to DNB Markets (jarl.brevik@dnb.no, +47 97 66 99 16) or SEB (knut.kobberstad@seb.no, +47 48 40 22 40) before noon ET on March 15.
Aker is an engineering company based in Oslo.
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