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Published on 11/8/2012 in the Prospect News High Yield Daily.

New Issue: Norway's Rem Offshore sells NOK 75 million floating-rate bonds due 2015

By Toni Weeks

San Diego, Nov. 8 - Rem Offshore ASA said it has issued NOK 75 million of senior unsecured floating-rate bonds due March 31, 2015.

Interest is Nibor plus 525 basis points.

RS Platou Markets is the arranger of the issue.

Settlement is expected Dec. 20.

Proceeds will be used for general corporate purposes.

The fishing and supply shipping company is located in Fosnavaag, Norway.

Issuer:Rem Offshore ASA
Issue:Senior unsecured bonds
Amount:NOK 75 million
Maturity:March 31, 2015
Coupon:Nibor plus 525 bps
Arranger:RS Platou Markets
Announcement date:Nov 8
Settlement date:Dec. 20

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