Electromagnetic Geoservices ASA (EMGS) has successfully completed a new unsecured bond issue of NOK 350 million with maturity in June 2016.
An application will be made for the bonds to be listed on the Oslo Stock Exchange.
In connection with the new bond issue, Electromagnetic Geoservices ASA has repurchased bonds with a nominal value of NOK 163.5 million in the existing bond issue EMGS01 maturing in May 2014.
Net proceeds from the new bond issue will be used for general corporate purposes and for refinancing of existing debt.
Arctic Securities acted as sole lead arranger in connection with the placement of the new bond issue.
Contact
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
Chris Guldberg, EMGS Head of PR/IR, +47 73 56 88 10 / +47 92 81 07 07
Fixed Income Sales, Arctic Securities, +47 21 01 30 60
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The company's services enable integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency, and reduces risks and the finding costs per barrel.
Chris Guldberg, EMGS Head of PR/IR, +47 73 56 88 10 / +47 92 81 07 07
Fixed Income Sales, Arctic Securities, +47 21 01 30 60
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The company's services enable integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency, and reduces risks and the finding costs per barrel.
EMGS has conducted more than 650 surveys to improve drilling success rates across the world's mature and frontier offshore basins. The company operates on a worldwide basis with main offices in Trondheim and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.