Oslo-listed Songa Offshore has completed a 5-year senior unsecured bond issue worth NOK 1.4bn ($250m).
Proceeds will go towards general corporate purposes including the initial installment on the second CAT-D rig to be constructed at Daewoo Shipbuilding & Marine Engineering, according to the operator.
The coupon on the bonds, to be listed on the Oslo stock exchange next week, will carry a floating rate of 10% over Nibor.
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