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Published on 9/11/2014 in the Prospect News High Yield Daily.

New Issue: Norway’s Rem Offshore sells NOK 500 million five-year floaters

By Susanna Moon

Chicago, Sept. 11 – Rem Offshore ASA said it issued NOK 500 million of five-year floating-rate bonds.

Interest is Nibor plus 525 basis points.

Proceeds will be used for general corporate purposes.

DNB Markets, Nordea Markets and Swedbank Norway are the joint lead managers.

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

Issuer:Rem Offshore ASA
Issue:Floating-rate bonds
Amount:NOK 500 million
Maturity:Sept. 25, 2019
Coupon:Nibor plus 525 bps
Managers:DNB Markets, Nordea Markets and Swedbank Norway
Announcement date:Sept. 10
Settlement date:Sept. 11

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