AKER BP ASA ANNOUNCES LAUNCH OF $500 MILLION SENIOR NOTES OFFERING
Aker BP ASA (the “Company”) announced today that it has launched an offering of senior notes (the “Offering”) in an aggregate principal amount of $500 million (the “Notes”). Interest will be payable semi-annually. The interest rate, offering price and other terms will be determined at the time of pricing of the Offering, subject to market conditions. The Company intends to use the net proceeds of the Offering to repay the Company’s existing subordinated bond due 2022 (the “Subordinated Bond”) in full and use the balance to repay (without cancelling) drawn commitments under the Company’s