Norway's Noreco tenders for NOK 250 million of notes by Dutch auction

By Susanna Moon

Chicago, Nov. 30 - Norwegian Energy Co. ASA (Noreco) said it began cash tender offers for up to NOK 250 million of two series of bonds by Dutch auction.

The company will pay between 97 and par for its floating-rate notes due 2012 and its 6% convertible bonds.

Holders also will receive accrued interest.

The offer will run until 11:30 a.m. ET on Nov. 30.

Arctic Securities ASA (attn: fixed-income sales at 47 21 01 31 91) and Pareto Securities AS (attn: fixed-income sales at 47 22 87 87 70) are the agents.

Noreco is a Stavanger, Norway-based energy company.

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