FORNEBU, Norway, Nov. 2, 2023 /PRNewswire/ -- Akastor ASA's (OSE:
AKAST) 50% owned affiliate HMH Holding B.V. ("HMH") has today
successfully completed a USD 200
million senior secured bond issue with a tenor of 3 years
and a fixed coupon of 9.875 % per annum (the "Bonds"). Reference is
made to Akastor's stock exchange notice on 30 October 2023.
The net proceeds from the Bonds will be applied towards (i)
settlement in full of HMH's existing USD 150
million senior secured bond issue with ISIN NO0012428996
("HMHH01"), (ii) full repayment of existing bank borrowings, and
(iii) general corporate purposes. HMH intends to seek for listing
of the Bonds on Oslo Børs.
For further details 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
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/
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