By Paul A. Harris
St. Louis, Feb. 8 - Norwegian petroleum services company Awilco Offshore ASA announced in a Wednesday news release that it has sold $100 million of 9¾% five-year unsecured notes.
Pareto Securities ASA ran the books for the issue, which was fully subscribed, according to the release.
The company specified that it has invested in five jack-up drilling rigs under construction and two accommodation units. The company also holds options for the construction of a further three jack-up drilling rigs.
In addition Awilco Offshore owns about 20% of Petrojack ASA and 38% of Offshore Rig Services ASA.
The company is based in Oslo, Norway.
| Issuer: | Awilco Offshore ASA
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| Amount: | $100 million
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| Maturity: | February 2011
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| Security description: | Unsecured notes
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| Bookrunner: | Pareto Securities ASA
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| Coupon: | 9¾%
|
| Settlement date: | Feb. 28
|
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