ISIN NO0010823347 |
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ISIN: |
NO0010823347 |
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Ticker: |
DNO02 |
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Issuer: |
DNO ASA |
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Maturity: |
31.05.2023 |
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Currency: |
USD |
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Interest rate: |
8.75 percent fixed (quarterly interest payments) |
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Loan amount: |
USD 400 million |
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Status of the bonds: |
Senior unsecured |
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Call option: |
Callable at a premium from 31.05.2021 and until maturity (American call options) |
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Trustee: |
Nordic Trustee ASA |
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VPS agent: |
Danske Bank |
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Lead manager: |
Pareto Securities AS |
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Co-managers: |
Danske Bank and SpareBank 1 Markets AS |
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Additional info |
In June 2018 bondholders approved of harmonizing the terms and covenant structure of DNO01 and DNO02. |
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ISIN: |
NO0010852643 |
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Ticker: |
DNO03 |
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Issuer: |
DNO ASA |
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Maturity: |
29.05.2024 |
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Currency: |
USD |
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Interest rate: |
8.375 percent |
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Loan amount: |
USD 400 million |
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Status of the bonds: |
Senior unsecured |
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Call option: |
Yes |
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Trustee: |
Nordic Trustee ASA |
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VPS agent: |
N/A |
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Lead managers: |
Danske Bank and Pareto Securities |
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Co-managers: |
SpareBank 1 Markets AS |
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Additional info |
As this new bond loan was completed through a private placement in May 2019, it was announced that the Company would apply for the bonds to be listed on the Oslo Stock Exchange. The bond was 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