-- Serica Energy (SQZ.L) said Wednesday it placed $300 million of five-year senior unsecured bonds with a coupon of 7.875%, following strong investor demand across the Nordics, the UK, and other geographies.
The oil and gas company noted that the offering was significantly oversubscribed, with settlement of the bond issue due on May 12. It plans to list the bonds on Euronext ABM in Oslo.
The net proceeds will be used to fully repay drawn Reserve Based Lending debt and to boost liquidity.