OSA Goliath to offer $6.5 million in funding bonds to existing holders

By Caroline Salls

Pittsburgh, Nov. 13 – OSA Goliath Pte. Ltd. intends to offer a $6.5 million funding bond issue to existing holders of its original bond and liquidity bond to keep funding its working capital requirements and pay costs related to the original bond issue, according to a notice to bondholders from trustee Nordic Trustee ASA.

Under a previous agreement, liquidity bondholders will have a right of first refusal. The funding bonds will be a tap issue under the liquidity bond agreement.

Pareto Securities AS and Pareto Securities Pte. Ltd. are the arrangers for the funding bond issue.

The subscription period for the new bonds will end on Nov. 17. Settlement is expected to occur on Nov. 24.

The minimum subscription amount will be $200,000. The bonds will be available in $100,000 increments thereafter.

According to the notice, OSA Goliath’s working capital needs include day-to-day management and operation needs. The bond issue costs include costs related to the sale of the company’s vessel in Aruba.

OSA Goliath is a subsidiary of offshore oil engineering services company Oceanografia SA de CV.

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