SCHIEDAM, NETHERLANDS--(Marketwire - Oct 11, 2012) - Yesterday, SBM Offshore successfully
priced an inaugural US$ 500 million US
Private Placement project bond with 16 Institutional Investors. The bond
is rated Baa2/BBB by Moody's and Fitch carries a 5.5% fixed coupon for a 15
This is the first transaction issued for an FPSO in the US Capital Markets,
SBM Offshore is very pleased with such diversification of funding sources.
The proceeds of this placement will be used to fund the refurbishment of
FPSO Cidade de Anchieta, which started its service for Petrobras on 10
of this year under an 18 year lease and operate contract. Closing of the
transaction is expected to occur by the end of October.
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Source: SBM Offshore N.V. via Thomson Reuters ONE