DNO ASA, the Norwegian oil and gas company with operations in Iraqi Kurdistan, is contemplating the issuance of a new, five-year senior unsecured bond with a minimum size of USD 400 million through a private placement.
The coupon rate and the issue size will be determined during the accelerated book building commencing today.
The net proceeds from the contemplated bond issue will be used towards the refinancing of DNO’s existing DNO01 bond (ISIN NO 0010740392) and for general corporate purposes.
Existing DNO01 bondholders that participate in the contemplated new bond issue will be given the opportunity to offer part or all of their DNO01 bonds at 103.25 percent of par plus accrued interest at settlement of the contemplated new bond issue.
Pareto Securities AS is acting as lead manager and bookrunner with Danske Bank and SpareBank 1 Markets AS acting as co-managers and bookrunners.