Lime Petroleum AS (“Lime”) refers to its press release dated 19 June 2024 and wishes to announce that Lime Petroleum Holding AS (“LPH”), of which Lime will become a part, has successfully raised NOK 1.2 billion (approximately US$112.3 million) in NOK denominated senior secured bonds with a three-year tenor (the “Bonds”). The denomination of the bonds has been changed from USD to NOK following market feedback.
Use of proceeds will be to refinance Lime’s existing bond, as well as for LPH’s exploration, development and production activities and general working capital in Norway and Africa.
The settlement will take place on 17 July 2024. The Bonds will be issued at 100 per cent of the nominal amount and carries a coupon of 925 bps plus three-month Norwegian Interbank Offered Rate (NIBOR). Closing and draw-down are subject to certain conditions and approvals.
ABG Sundal Collier acted as Sole Bookrunner and Manager for the bond issue.
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