Akastor ASA: HMH mandate announcement and contemplated bond issuance

Rhea-AI Summary

Akastor ASA's affiliate HMH Holding B.V. has mandated DNB Markets, Nordea, Arctic Securities, and Pareto Securities to arrange fixed income investor meetings for a senior secured bond loan. The loan will be used to refinance the company's existing senior secured bond.

FORNEBU, Norway, Oct. 30, 2023 /PRNewswire/ -- Akastor ASA's (OSE: AKAST) 50% owned affiliate HMH Holding B.V. ('HMH') has today announced that it has mandated DNB Markets and Nordea as Global Coordinators and Joint Bookrunners and Arctic Securities and Pareto Securities as Joint Bookrunners to arrange a series of fixed income investor meetings, with the intention of seeking to secure a senior secured bond loan.

The net proceeds from the contemplated senior secured bond issue will inter alia be used to refinance the Company's existing senior secured bond maturing 10 February 2025 which is listed with ISIN NO0012428996 ('HMHH01').

Reference is made to the separate announcement issued by HMH and which is available on HMH's website: https://hmhw.com/investors/

For further information, please contact:
Øyvind Paaske
Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com   

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About HMH

HMH is a premier drilling solutions provider, which was formed as an independent company in October 2021 through the merger of Baker Hughes' (NYSE: BKR) Subsea Drilling Systems business and Akastor ASA's wholly owned subsidiary, MHWirth AS.

HMH combines integrated delivery capabilities, capital, renowned industry expertise and delivers the full range of offshore drilling equipment products and packages at scale. HMH aims to support the industry's transition toward more energy-efficient solutions, as well as deploying technologies and service solutions to make the sector more competitive through increased drilling efficiency. Moreover, the Company's service and technology portfolio will be utilized as a springboard for future growth, both within drilling services and when pursuing opportunities towards adjacent industries such as renewables and mining.

For further information, please visit homepage: https://hmhw.com/   

About Akastor

Akastor is a Norway-based oil-services investment company with a portfolio of industrial holdings and other investments. The company has a flexible mandate for active ownership and long-term value creation.

For further information, please visit homepage: https://akastor.com/    

 

View original content:https://www.prnewswire.com/news-releases/akastor-asa-hmh-mandate-announcement-and-contemplated-bond-issuance-301971116.html

SOURCE Akastor ASA

FAQ

What is the purpose of HMH Holding B.V.'s investor meetings?

The investor meetings are being arranged to secure a senior secured bond loan.

Which companies are involved in arranging the investor meetings?

DNB Markets, Nordea, Arctic Securities, and Pareto Securities are the companies involved in arranging the meetings.

What will the loan be used for?

The loan will be used to refinance the company's existing senior secured bond.