Songa Offshore said it intends to issue a convertible bond of up to $125million.
The step comes after the company previously issued a bridge bond of $91.5million which is expected to be converted into the new convertible bond.
A spokesman said the new convertible bond will be denominated in US dollars and issued by the company as “unsubordinated unsecured debt” with a six-year tenor.
The bookbuilding period for the new convertible bond will take place from today until April, which may be shortened or extended.
The New Convertible Bond is expected to be settled around 20 April.
Songa said an application for the new convertible bond will be listed on the Oslo Stock Exchange within six months after the settlement date.
ABG Sundal Collier ASA and Swedbank Norge are acting as joint lead managers and bookrunners for the new convertible bond and are acting as financial advisors to the Company in connection with the refinancing.