By Paul A. Harris
St. Louis, June 19 - Norway-based Awilco Offshore ASA announced on Tuesday that it has placed an upsized NOK 500 million issue of three-month Nibor plus 225 basis points three-year senior unsecured bonds.
The arranger was Pareto Securities ASA.
The issue was upsized from NOK 300 million.
In the press release, the Awilco board of directors and management announced that that the issue was significantly oversubscribed.
Proceeds will be used to fund further growth of the Oslo-based international offshore drilling contractor.
| Issuer: | Awilco Offshore ASA
|
| Amount: | NOK 500 million (increased from NOK 300 million)
|
| Maturity: | July 2010
|
| Security description: | Senior unsecured bonds
|
| Arranger: | Pareto Securities ASA
|
| Coupon: | Three-month Nibor plus 225 bps
|
| Expected settlement: | July 6
|
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