Pricing of Nordic bond issue

Summary by AI BETAClose X

Serica Energy plc has successfully completed a $300 million senior unsecured bond issue with a 7.875% coupon, which was significantly oversubscribed by international investors. The net proceeds will be used to repay outstanding Reserve Based Lending debt and enhance liquidity, bringing the company's pro forma liquidity to approximately $675 million. This strategic move diversifies financing sources and strengthens the balance sheet, positioning Serica to capitalize on future investment opportunities. The bonds are expected to be listed on the Euronext ABM market in Oslo.

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