BW Offshore Ltd.
Description
BW Offshore Ltd. announced the successful placement of senior unsecured bonds due 2024 convertible into new and/or existing interests in common shares of the company with a total size of approximately $300 million following the exercise the approximately $50 million increase option.
The bonds will have a fixed coupon of 2.5% payable semi-annually in arrear and a conversion premium of 37.5% over the volume weighted average price of the Shares on the Oslo Stock Exchange between opening and closing of trading today.