Songa Offshore Launches Senior Notes Offering

Songa Offshore has launched an offering of $200,000,000 aggregate principal amount of senior notes. The Notes are expected to have a maturity of seven years and are guaranteed on a senior basis by certain of its subsidiaries. Net proceeds from the offering will be used to repay existing indebtedness and for general corporate purposes.

Following the closing of the offering, Songa expects to conduct an exchange offer pursuant to which it will offer to exchange its secured fixed rate bond due 2011 and its floating rate bond due 2012 for additional Notes.


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