OKEA ASA: Successful Placement of Senior Secured Bond Issue

(Trondheim, 30 August, 2023): OKEA ASA (OSE: OKEA) (the “OKEA” or the “Company”) has successfully placed a new USD 125 million senior secured bond issue with 3 year tenor. The new bond will carry a fixed interest rate of 9.125% per annum. The transaction attracted strong interest from Nordic and international investors and was significantly oversubscribed.

Net proceeds from the bond issue will, together with cash on the balance sheet, be used to repay the Company’s outstanding USD 120 million senior secured bond with ISIN NO 001 0869175 (“OKEA03”). The Company will issue a call notice for full repayment of OKEA03 at the prevailing call price in due course.

DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS acted as Joint Lead Managers and Joint Bookrunners, and Fearnley Securities AS acted as Co-Manager, in connection with the bond issue.

For further information, please contact:

Birte Norheim, CFO
birte.norheim@okea.no
+47 952 93 321

Anca Jalba, VP IR & Communication
anca.jalba@okea.no
+47 410 87 988

About OKEA

OKEA ASA is a leading mid- to late-life operator on the Norwegian continental shelf (NCS). OKEA finds value where others divest and has an ambitious strategy built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).

More information at www.okea.no.