rss icon Subscribe
desktop mobile

BW Offshore Completes Bond Issue

Image: BW Offshore

Laxman Pai

BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023.

The Oslo Stock Exchange-listed company said that the settlement of the new bond issue is scheduled for 4 December 2019.

The existing NOK bonds have either been repurchased as part of the offering or will be called with settlement mid-January 2020.

In combination with the USD 297.4 million convertible bond issue announced on 5 November 2019, the new bond successfully concludes the company's refinancing of its existing NOK bonds maturing between 2020 and 2022, totalling approximately USD 393 million including related cross currency swaps.

Danske Bank, DNB Markets, Nordea and Swedbank acted as joint lead managers for the bond issue.

BW Offshore has a fleet of 15 owned FPSOs. It also participates in developing offshore hydrocarbon reservoirs. The company has more than 30 years of production track record, having executed 40 FPSO and FSO projects.

Nov 18, 2019

 

People & Company News

American Club Managers Promote Ioannou, McCafferty

Dorothea Ioannou takes on the role of Deputy Chief Operating Officer

Shipowners Claims Bureau, Inc. (SCB), the Managers of the American Club, has announced senior

Phillips Joins WQIS as Senior Underwriter

John P. Phillips

The Water Quality Insurance Syndicate (WQIS) appointed John P. Phillips as Senior Underwriter

American Maritime Partnership Honors Actor Tom Hanks

© Walter Cicchetti / Adobe Stock

Trade group American Maritime Partnership (AMP) announced it is honoring Oscar-Winning actor Tom

Legal

US Says Room for Sanctions in Response to China in South China Sea

Mischief Reef has been occupied and controlled by China since 1995, and is also claimed by Taiwan, the Philippines and Vietnam. (Credit: CSIS/AMTI, DigitalGlobe)

The top U.S. diplomat for East Asia warned on Tuesday that Washington could respond with sanctions

Widow of Bangladeshi Shipbreaking Worker Free to Sue Maran

© katiekk2 / Adobe Stock

A Bangladeshi woman whose husband died while dismantling an oil tanker at a shipbreaking yard in

EU Again Halts Probe into Korean Shipbuilding Tie-up

© Angelika Bentin / Adobe Stock

EU antitrust regulators have again halted their investigation into world No. 1 shipbuilding group

Maritime Apps