Norway’s PGS ASA, a fully integrated marine geophysical company, successfully placed a new $450 million senior secured bond.

Proceeds from the debt offering, coupled with available cash on hand, will be used to repay $600 million of PGS’ B term loan, which matures in March 2024, the Oslo-based company announced March 31 in a press release.

The repayment was completed March 31, PGS said.