Edition:
India

Odfjell Drilling - Private placement of up to USD 200 mln


Thursday, 19 Apr 2018 

April 19 (Reuters) - Odfjell Drilling Ltd ::IS CONTEMPLATING TO OFFER NEW COMMON SHARES IN A PRIVATE PLACEMENT RAISING GROSS PROCEEDS OF UP TO APPROXIMATELY NOK 1.56 BILLION, EQUIVALENT TO UP TO APPROXIMATELY USD 200 MILLION.NET PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED TO FINANCE COMPANY'S GROWTH AMBITIONS AND FOR GENERAL CORPORATE PURPOSES.ODFJELL DRILLING IS CONSIDERING VARIOUS OPPORTUNITIES FOR GROWTH AND ONE OPPORTUNITY IS POTENTIAL PURCHASE OF "STENA MIDMAX RIG".NO DECISION HAS BEEN MADE TO PURCHASE UNIT, COMPANY MAY SELECT OTHER ALTERNATIVES TO REALISE ITS GROWTH AMBITIONS AND COMPLETION OF PRIVATE PLACEMENT IS NOT CONDITIONAL UPON COMPANY'S PURCHASE OF UNIT.IN EVENT THAT COMPANY SHOULD DECIDE TO PURCHASE UNIT, UNIT WILL AMONGST OTHER ALSO BE FINANCED THROUGH ISSUANCE OF PREFERENCE SHARES AND WARRANTS TO BE SUBSCRIBED BY AKASTOR AS OR AN AFFILIATE.HAS RETAINED ABG SUNDAL COLLIER, ABN AMRO BANK N.V., DANSKE BANK, DNB MARKETS, NORDEA BANK, PARETO SECURITIES AS AND SPAREBANK 1 MARKETS AS JOINT LEAD MANAGERS AND BOOKRUNNERS FOR THE PRIVATE PLACEMENT. . 

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