The bond will be secured by a third priority mortgage in Petrojack's two new build jackups under construction at Jurong, with scheduled delivery in January 2008 and December 2008.
The bond will mature in full in April 2010 and thus further strengthen Petrojack's long term financing. The proceeds will further increase the company's strong liquidity and will be used for financing investments within the oil/offshore sector and for general corporate purposes.
Petrojack ASA has given Pareto Securities ASA a mandate as arranger of the new bond issue.
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