OKEA ASA: Successful Placement of Senior Secured Bond Issue

(Trondheim, 30 August, 2023): OKEA ASA (OSE: OKEA) (the “OKEA” or the “Company”) has successfully placed a new USD 125 million senior secured bond issue with 3 year tenor. The new bond will carry a fixed interest rate of 9.125% per annum. The transaction attracted strong interest from Nordic and international investors and was significantly oversubscribed.

Net proceeds from the bond issue will, together with cash on the balance sheet, be used to repay the Company’s outstanding USD 120 million senior secured bond with ISIN NO 001 0869175 (“OKEA03”). The Company will issue a call notice for full repayment of OKEA03 at the prevailing call price in due course.

DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS acted as Joint Lead Managers and Joint Bookrunners, and Fearnley Securities AS acted as Co-Manager, in connection with the bond issue.