By Paul A. Harris
Portland, Ore., Feb. 28 – Altera Shuttle Tankers LLC priced an upsized $200 million issue of 9% four-year senior bonds on Wednesday, according to market sources.
The issue size increased from $150 million.
Price talk was 9% to 9¼%. Initial talk was 9¼% to 9½%.
Proceeds will be used to repay debt and for general corporate purposes.
Altera Shuttle Tankers is Bermuda-based subsidiary of Altera Infrastructure, an energy infrastructure services group primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil and the East Coast of Canada.
| Issuer: | Altera Shuttle Tankers LLC
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| Amount: | $200 million, increased from $150 million
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| Issue: | Senior bonds
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| Maturity: | March 13, 2028
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| Joint bookrunners: | Arctic Securities, Danske Bank, DNB Markets, Nordea and SEB
|
| Co-managers: | Credit Agricole CIB
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| Coupon: | 9%
|
| Call protection: | Two years
|
| Trade date: | Feb. 28
|
| Price talk: | 9% to 9¼%
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