Debt financing

 

ISIN NO001188593

 

ISIN:

NO001188593

Ticker:

n/a

Issuer:

DNO ASA

Maturity:

09.09.2026

Currency:

USD

Interest rate:

7.875 percent fixed (quarterly interest payments)

Loan amount:

USD 400 million

Status of the bonds:

Senior unsecured

Call option:

Callable at a premium from 09.09.2024 and until maturity (American call options)

Trustee:

Nordic Trustee ASA

VPS agent:

Danske Bank

Global coordinator and joint lead manager:

Pareto Securities AS

Joint lead managers:

Danske Bank and SEB

Additional info

The issuer shall apply for the bonds to be listed on an exchange within six months from the issue date

 

ISIN NO0010823347

 

ISIN:

NO0010823347

Ticker:

DNO02

Issuer:

DNO ASA

Maturity:

31.05.2023

Currency:

USD

Interest rate:

8.75 percent fixed (quarterly interest payments)

Loan amount:

USD 400 million issued, USD 145.4 million outstanding

Status of the bonds:

Senior unsecured

Call option:

Callable at a premium from 31.05.2021 and until maturity (American call options)

Trustee:

Nordic Trustee ASA

VPS agent:

Danske Bank

Lead manager:

Pareto Securities AS

Co-managers:

Danske Bank and SpareBank 1 Markets AS

Additional info

The remaining DNO02 bonds are called and will be redeemed by the end of September 2021



ISIN NO0010852643

 

ISIN:

NO0010852643

Ticker:

DNO03

Issuer:

DNO ASA

Maturity:

29.05.2024

Currency:

USD

Interest rate:

8.375 percent

Loan amount:

USD 400 million

Status of the bonds:

Senior unsecured

Call option:

Callable at a premium from 29.11.2022 and until maturity (American call options)

Trustee:

Nordic Trustee ASA

VPS agent:

N/A

Lead managers:

Danske Bank and Pareto Securities

Co-managers:

SpareBank 1 Markets AS

Additional info

The bonds were listed on 28 February 2020. 

Bond ranking
The bonds rank ahead of subordinated debt and rank at least pari passu with all of DNO’s other obligations, except for such claims including bankruptcy, insolvency, liquidation or other similar laws of general application.

Financial covenants
The financial covenants of the bonds issued by DNO require minimum USD 40 million of liquidity, and that the Group maintains either an equity ratio of 30 percent or a total equity of a minimum of USD 600 million.

Documents
The bond registration document, securities note and summary for DNO02 are available at the links below.

The bond registration document, securities note and summary for DNO03 are available at the links below.

For any questions, please contact:

Haakon Sandborg 

Chief Financial Officer
Telephone: (+47) 23 23 84 80