Published on 3/23/2018 in the Prospect News High Yield Daily.
New Issue: Norway’s REC Silicon prices $110 million 11˝% five-year secured notes
By Paul A. Harris
Portland, Ore., March 23 – REC Silicon ASA priced a $110 million issue of 11˝% five-year senior secured bonds, according to a company source.
Arctic Securities and DNB Markets were the joint lead managers.
The Fornebu, Norway-based silicon materials producer said that the deal came in connection with a conditional buy-back of its outstanding senior unsecured bonds due May 2018 and its outstanding convertible bonds due September 2018.
| Issuer: | REC Silicon ASA
|
| Amount: | $110 million
|
| Maturity: | April 13, 2023
|
| Securities: | Senior secured bond
|
| Joint lead managers: | Arctic Securities, DNB Markets
|
| Coupon: | 11˝%
|
| Announcement date: | March 23
|
| Settlement date: | April 13
|
| Listing: | Oslo Bors
|
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