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Aker Drilling may buy back some bonds at 104.5 in swap for new bonds
By Susanna Moon
Chicago, Jan. 24 - Aker Drilling ASA is offering to buy back some of its outstanding floating-rate bonds due 2013 at 104.5.
In order to participate, holders must subscribe for a minimum of the corresponding nominal face value of the company's new senior bonds due February 2016.
The company said it may issue up to NOK 1.5 billion of the bonds in the Norwegian bond market and use the proceeds to refinance the outstanding bond issue, repay subordinated loans to Aker ASA and for general corporate purposes.
Aker Drilling, 100% owned by Aker via Aker Capital AS, is a Stavanger, Norway, offshore drilling contractor.
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