28 November 2006 - The refinancing of Aker Kværner ASA announced on 24 October has been successfully concluded. The syndication of the bank facility of EUR 600 million has attracted substantial interest in the market and was significantly oversubscribed. Aker Kvaerner has therefore decided to increase this facility to EUR 750 million.
28 Nov 06
The issuance of the NOK denominated bonds were launched on 15 November. The bonds have been very well received in the market and Aker Kvaerner decided to close the books mid last week with a total amount of NOK 1.6 billion. The split in the 3, 5 and 7 years tranches were NOK 500 million, NOK 650 million and NOK 450 million respectively. Payment date is 1 December 2006. Aker Kvaerner will consider further issuances in the bond market at a later stage.
Aker Kvaerner has today also formally called the subordinated bond to be redeemed at the price of 101,2% of the principal loan amount as agreed in the bondholders meeting 9 November.
Furthermore, Aker Kvaerner will neutralise the existing EUR 260 million bond notes through a satisfaction and discharge as previously announced.
The above transactions will take place on 1 December 2006.
The refinancing of Aker Kvaerner will give a strong and flexible financing structure for the Group in the coming years.
ENDS
For further information, please contact:
For Aker Kvaerner ASA:
Media:
Torbjørn S. Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 92 88 55 42
Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner, Tel: +47 67 51 30 39, Mob: +47 91 13 71 94
Treasury:
Jan B. Kjærvik, SVP Treasury, Aker Kvaerner, Tel: +47 67 51 30 38, Mob: +47 90 15 77 23
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