Financing

Aker BP Launches US$1.5 Billion Offering of Senior Notes

By Isha Makkar
January 08, 2020
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Aker BP ASA has launched an offering of US$500 million aggregate principal amount of 3% senior notes due 2025, and US$1 billion aggregate principal amount of 3.75% senior notes due 2030. The 3% senior notes have been priced at 99.696% of the aggregate principal amount, while the 3.75% senior notes are priced at 99.802% of the aggregate principal amount thereof. Interest on the notes will be payable semi-annually. The Company intends to use the net proceeds of the offering to partially repay outstanding amounts under the its revolving credit facility (without reducing commitments) and for general corporate purposes. The offering is expected to close on or about January 15th, 2020.

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