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HMH holding investor calls ahead of potential bond offering
By Mary-Katherine Stinson
Lexington, Ky., Oct. 30 – Akastor ASA’s 50% owned affiliate, HMH Holding BV, has mandated DNB Markets and Nordea as joint lead managers to arrange a series of fixed-income investor meetings beginning Monday ahead of a possible bond issue, according to a news release.
HMH expects to price at least $200 million of three-year senior secured bonds, subject to market conditions.
Proceeds will be used to refinance the company’s existing senior secured bonds maturing Feb. 10, 2025 (ISIN: NO0012428996) and to partially repay bank borrowings as well as for general corporate purposes.
HMH is a drilling solutions provider based in Lysaker, Norway, which was formed as an independent company in 2021 through the merger of Baker Hughes' Subsea Drilling Systems business and Akastor ASA's wholly owned subsidiary, MHWirth AS.
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