Norway: I.M. Skaugen Completes Bond Issue

Norway’s I.M. Skaugen said it has completed a new senior unsecured bond issue of NOK 400 million.

The bonds will have a coupon of NIBOR + 8.25% and will mature in February 2015.

The company said in a statement that, in connection with the bond issue, it has bought back a nominal amount of NOK 119.5 million in IMSK04 with ISIN NO0010367899 and NOK 147 million in IMSK09 with ISIN NO0010587991. Following the bond issue, I.M. Skaugen SE has sufficient free liquidity to cover remaining 2012 bond maturities.

Additionally, I.M. Skaugen has bought back NOK 47.5 million in IMSK10 with ISIN NO0010604689.

1 Norwegian krone = 0.173786 U.S. dollars

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LNG World News Staff, February 12, 2012