Altinex Completes Bond Issue for Denerco Merger

Altinex ASA says that the NOK 660 million (US$104.6 million) bond issue that it will use to complete its acquisition of Denerco Oil is now fully subscribed.

Geopard A/S, a 100% indirectly owned subsidiary of Altinex, issued the senior unsecured bond loan, which will carry a coupon of 12% per year and will mature in 2012. The bond loan will be supported by a parent company guarantee from Altinex.

With this bond issue, together with a previously announced share issue and bank loan, Altinex has all the financing in place for the acquisition. The settlement is set for June 22.

Pareto Securities ASA and SEB Enskilda ASA were the mandated arrangers for the bond issue.

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