Rex’s Lime Petroleum unit plans NOK-denominated three-year bonds

By Marisa Wong

Los Angeles, June 22 – Rex International Holding Ltd. announced that Lime Petroleum AS has engaged ABG Sundal Collier ASA as its exclusive manager to arrange fixed-income investor meetings ahead of an offering of NOK-denominated senior secured bonds with a three-year tenor, according to a press release.

The purpose of the new bond issue is to refinance Lime Petroleum’s existing NOK 500 million senior secured bonds due January 2024 (ISIN NO0011037343) and for acquisition purposes on the Norwegian Continental Shelf, as well as general working capital purposes.

Subject to successful placement of the new bonds, Lime Petroleum will exercise its option to make an early repayment of the existing bonds.

Lime Petroleum is a 91.65% subsidiary of Rex International. The oil and gas companies are based in Oslo and Singapore, respectively.

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