By Paul A. Harris
St. Louis, Feb. 28 - Norway's DNO ASA priced a NOK 200 million issue of five-year senior unsecured floating-rate bond loans at par to yield Nibor plus 250 basis points on Monday, according to an informed source.
The bond loans were sold to both domestic and international investors, according to a company press release.
Fearnley Fonds ASA was the bookrunner for the issue, which was priced off of the company's NOK 1 billion shelf.
Proceeds will be used to secure long-term financing for DNO in connection with the repurchase of bonds under loan facilities DNO 03 and DNO 04, as well as additional financing for the development of DNO's portfolio of petroleum licenses.
The issue is non-rated.
DNO ASA is an international energy exploration and production company based in Oslo, Norway.
| Issuer: | DNO ASA
|
| Amount: | NOK 200 million
|
| Maturity: | March 2, 2011
|
| Security description: | Senior unsecured floating-rate bond loans
|
| Bookrunner: | Fearnley Fonds ASA
|
| Coupon: | Nibor plus 250 bps
|
| Price: | Par
|
| Yield: | Nibor plus 250 bps
|
| Swap spread: | 335 bps
|
| Call protection: | Three years
|
| Trade date: | Feb. 27
|
| Settlement date: | March 2
|
| Rating: | Non-rated
|
| Intended listing: | Oslo Stock Exchange
|
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