ABG Sundal Collier acted as joint lead manager and bookrunner in connection with the USD 120 million senior secured bond issue for OKEA AS

Deal announcement

On Friday 27 October, OKEA successfully completed the issuance of a USD 120m senior secured bond with maturity date in November 2020. The net proceeds from the bond issue will be used to fund OKEA`s part of the costs for the development of the Yme field offshore Norway.
 

About OKEA

OKEA is a Norway based E&P independent focusing on small field developments (<100 mmboe) and is the first ever company on the Norwegian Continental Shelf dedicated to this niche. OKEA was established in 2015 and has since then built a highly skilled operator organization and a concentrated North Sea portfolio consisting of Ivar Aasen (0.554%), Yme (15%) and Grevling (70%). OKEA’s main asset is Yme, a material, low cost and substantially de-risked development located ~110km southwest of Stavanger in 75 meters of water debt.