Further to the announcement on27 April 2018 byOdfjell Drilling Ltd ("Odfjell Drilling " or the "Company") the Company has today repurchased the preference shares (the "Repurchase") fromAkastor ASA ("Akastor "). The preference shares have been acquired for cash at par value, for approximatelyUSD 95 million including accrued dividends. Warrants held byAkastor are not part of the transaction and will remain withAkastor . The Repurchase has been fully financed by way of a new direct loan ofUSD 95 million , repayable in monthly instalments starting in 2025 and with a final maturity on30 June 2026 . As per the terms of the Repurchase, approximatelyUSD 75 million has been settled in cash, with a furtherUSD 20 million to be settled pursuant to a seller's credit agreement with a maturity date31 July 2024 . As a result of the transaction,Odfjell Drilling's interest-bearing debt has increased with approximatelyUSD 83 million . For further information, please contact:James Crothers , Investor Relations Officer +44(0)7393 766 446 jchu@odfjelldrilling.comLondon, United Kingdom 29 November 2022 Odfjell Drilling Ltd This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. Thisstock exchange announcement was published byGillian Basson , Corporate Secretary,Odfjell Drilling Ltd on29 November 2022 at12:21 CET .
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