Contemplating issuing new unsecured bonds
21 May 2013
Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announces that the Company is contemplating a new senior unsecured bond issue in the international bond market. The issue amount will be USD 95 million, with proposed maturity in June 2018.
Net proceeds from the bond issue will be used to refinance existing bond debt, the USD 60 million bond with ISIN NO 0010590300 and maturity 29 October 2015 and the USD 35 million convertible bond with ISIN NO 0010445943 and maturity 30 July 2013. The bond issue will be proposed listed on the Oslo Stock Exchange or Nordic ABM.
ABG Sundal Collier, DNB Markets and Pareto Securities are acting as joint managers for the proposed bond issue.
Rolf Rønningen, CEO Polarcus, +971 4 436 0800 / +971 50 459 6982
Tom Henrik Sundby, CFO Polarcus, +971 4 436 0800 / +971 50 708 6480
Polarcus (OSE: 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)