Dubai's Topaz Marine on roadshow for $350 million five-year notes

By Christine Van Dusen

Atlanta, Oct. 21 - Dubai's Topaz Energy and Marine Ltd. is on a roadshow for a $350 million offering of five-year notes, a market source said.

The roadshow began Monday in London and will travel to New York and Boston before concluding on Oct. 25 on the West Coast of the United States.

Goldman Sachs, HSBC and Societe Generale are the bookrunners for the Rule 144A and Regulation S deal. Clarkson Capital Markets, DVB Capital Markets, Pareto Securities and RBC Capital Markets are the co-managers.

The proceeds will be used to repay existing debt, to fund capital expenditures and to increase cash on the balance sheet.

The notes will be issued by wholly owned subsidiary Topaz Marine SA, according to a company announcement.

Topaz Marine is an oilfield services company that provides marine solutions to the global energy industry.

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