Dof Subsea has repurchased debt worth around $94m after successfully completing a new bond issue.
The Norwegian company has issued $175m worth of bonds that mature in March 2022 and will be listed on the Oslo Stock Exchange.
Dof used net proceeds from the fundraiser to buy back bonds with a nominal value of NOK 792m ($93.9m).
This bond is worth NOK 1.3bn and is due in May 2018.
Pareto Securities acted as manager of the new bond issue.
Analysts projected last month that the bond refinancing was “manageable”.
Dof completed a major restructuring in the summer and has continued to streamline its business since then by selling some older vessels.
