Polarcus launches a fully underwritten senior unsecured bond issue of NOK 230 million, due November 2014

by polarcus on 27-Oct-11 08:14
Polarcus Limited (OAX: PLCS) is pleased to announce the issuance of a new senior unsecured bond issue with maturity in November 2014. The bond issue will have a total amount of NOK 230 million and is fully underwritten by a group of investors.

The net proceeds from the contemplated bond issue (the “Bonds”) shall be used for partly refinancing of the bond for POLARCUS SAMUR and for general corporate purposes.

The Bonds will be issued with a coupon of 14.00% p.a., interests to be paid semi-annually. The books will be kept open until 15:00 CET 27 October 2011. The Bonds are expected to be settled on or about 14 November 2011. 

DnB NOR Markets, Pareto Securities and SEB Merchant Banking are acting as Joint Lead Managers of the Bond issue.
 
Contacts
 
Rolf Ronningen, CEO Polarcus, +971 4 436 0800 / +971 50 459 6982
Tom Henrik Sundby, CFO Polarcus, +971 4 436 0800 / +971 50 708 6480 
 
About Polarcus
 
Polarcus (OAX: PLCS) is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus operates a fleet of high performance 3D seismic vessels incorporating an innovative design and advanced maritime technologies for improved safety and efficiency. Polarcus offers contract seismic surveys and multi-client projects worldwide and employs over 500 professionals. The Company’s principal office is in Dubai, United Arab Emirates. For more information, visit www.polarcus.com
 
 
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)