DOF Subsea Collects $106M in Bond Sale

DOF Subsea, a subsidiary of DOF Group, has completed a new unsecured bond issue of NOK 900 million ($106 million).

Net proceeds from the new bond issue will be used to refinance existing bonds and for general corporate purposes.

The debt matures in November 2023.

In addition, DOF Subsea has repurchased bonds with nominal value of NOK 35 million in the existing bond issue DOFSUB07 with maturity in March 2020 and USD 26 million in the existing bond issue DOFSUB08.

Arctic Securities and Pareto Securities acted as managers of the new bond issue.

To remind, DOF Subsea reported year-to-date loss for 2018 of NOK 182 million ($21.4 million), against profit of NOK 91 million ($10.7 million) in the nine months of 2017.

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