ISIN NO0011088593 |
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ISIN: |
NO0011088593 |
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Ticker: |
DNO04 |
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Issuer: |
DNO ASA |
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Maturity: |
09.09.2026 |
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Currency: |
USD |
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Interest rate: |
7.875 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 09.09.2024 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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Global coordinator and joint lead manager: |
Pareto Securities AS |
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Joint lead managers: |
Danske Bank and SEB |
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Additional info |
Listing date 21 January 2022 |
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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 issued, of which USD 150,727,996 outstanding as of 30 August 2022 |
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Status of the bonds: |
Senior unsecured |
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Call option: |
Callable at a premium from 29.05.2022 and until maturity (American call options)
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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 |
On 31 May 2022, DNO completed a USD 200 million partial call option redemption. Following this partial redemption and cancellation of bonds acquired by the Company, the total amount outstanding under the bond loan is USD 150.7 million as of 30 August 2022. |
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 DNO04 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