TGS-NOPEC Five-year Bond Issue Raises NOK 300 million
Naersnes, Norway, 28 April, 2004 - TGS-NOPEC Geophysical Company ASA has successfully completed an offering of senior bonds. The loan amount is limited to NOK 500 mill, of which a first tranche of NOK 300 million (by today's exchange rate approximately USD 43 million) will be drawn on 5 May 2004. The bonds mature on 5 May 2009, and will bear interest on a per annum rate adjusted quarterly equalling 3 month NIBOR plus 2%. The Company will apply to list the bonds on the Oslo Stock Exchange.
The net proceeds from the loan will be used to finance TGS-NOPEC's activities and secure liquidity for the Company to act on opportunities in the market. The bond issue adds a new source of capital for TGS-NOPEC and strengthens its financial flexibility.
For a copy of the Prospectus or for more information, contact:
Arne Helland
Chief Financial Officer
Tel : + 47 31 29 20 00/+47 91 88 78 29
Email:
