Vår Energi (VAR.OL) priced an offering of 750 million euros of 4.95% subordinated fixed-rate reset securities due April 29, 2086.
The securities have a non-call period of 5.25 years with the first reset date of July 29, 2031, according to a Wednesday release. The issue price is 99.235%, reflecting a yield of 5.125%.
The oil and gas company noted that the order book was more than six times oversubscribed at peak and four times oversubscribed at allocation.
Odfjell Drilling (ODL.OL) signed contracts valued at $290 million to buy four stainless steel vessels from a shipowner in Japan.The Norwegian drilling and engineering company said Wednesday the ships will be delivered from the first quarter of 2027 until the second quarter of 2029.The 40,000 deadweight tonnage fuel-efficient ships will be used for core deep-sea trades.
Tullow Oil's (TLW.L) proposed refinancing of its outstanding $1.29 billion of 10.25% senior secured notes due 2026 received consent from over 99% of the note holders.As such, all holders of the notes will have a portion of their existing securities redeemed on Thursday, the independent energy company said Wednesday.Holders will also receive accrued and unpaid interest on their existing notes, as well as a 1% fee based on the aggregate principal amount of the outstanding notes as of the consent solicitation period's expiration on Tuesday.