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DOF Subsea sells $50M in debt


Published Aug 22, 2008
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Oslo Bourse

Offshore service ship outfit DOF Subsea has successfully sold debt to the tune of 250 million kroner ($50 million) “with a borrowing limit of 300 million kroner ($60 million).

Pareto Securities oversaw the issue of unsecured notes expected to be settled in August and mature a year later.

The coupon features a Norwegian Interbank Offered Rate of three-months plus 2.5 percent per year. It means DOF can cancel any undrawn amount of the commitment to repay, according to the U.S. Securities and Exchange Commission.

DOF Subsea managers said the money would be used to refinance a previous debt issue.




   

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