Songa Offshore SE announces $200,000,000 senior notes offering
(Thomson Reuters ONE) - Not for Distribution or Release in Australia, Canada or Japan27 January 2010 - Limassol, Cyprus. Songa Offshore SE (Oslo Stock Exchange:SONG) ("Songa") today announced that it has launched an offering of $200,000,000aggregate principal amount of senior notes (the "Notes"). The Notes areexpected to have a maturity of seven years and are guaranteed on a senior basisby certain of its subsidiaries. Net proceeds from the offering will be used torepay existing indebtedness and for general corporate purposes.Following the closing of the offering, Songa expects to conduct an exchangeoffer pursuant to which it will offer to exchange its secured fixed rate bonddue 2011 and its floating rate bond due 2012 for additional Notes.About Songa:Songa is a provider of offshore drilling services. With its fleet of six rigs,it currently operates in the North Sea, offshore North and West Australia andoffshore North and West Africa. Songa is headquartered in Limassol, Cyprus. * * * The Notes and the related guarantees have not been, and will notbe, registered under the U.S. Securities Act of 1933, as amended (the"Securities Act"), or any state securities laws. Accordingly, the Notes and therelated guarantees are being offered and sold in the United States only toqualified institutional buyers in accordance with Rule 144A under the SecuritiesAct and outside the United States in accordance with Regulation S under theSecurities Act. The offering is being made by means of an offering memorandum.This announcement does not constitute an offer to sell or the solicitation of anoffer to buy the Notes or any other security and shall not constitute an offer,solicitation or sale in any jurisdiction in which, or to any persons to whom,such offering, solicitation or sale would be unlawful. Promotion of the Notes in the United Kingdom is restricted bythe Financial Services and Markets Act 2000 (the "FSMA"), and accordingly, theNotes are not being promoted to the general public in the United Kingdom. Thisannouncement is for distribution only to persons who (i) have professionalexperience in matters relating to investments (being investment professionalsfalling within Article 19(5) of the Financial Services and Markets Act 2000(Financial Promotion) Order 2005 (as amended, the "Financial Promotion Order")),(ii) are persons falling within Article 49(2)(a) to (d) ("high net worthcompanies, unincorporated associations, trusts and certain persons connectedwith them") of the Financial Promotion Order, (iii) are outside the UnitedKingdom, or (iv) are persons to whom an invitation or inducement to engage ininvestment activity (within the meaning of section 21 of the FSMA) may otherwiselawfully be communicated or caused to be communicated (all such persons togetherbeing referred to as "relevant persons"). This announcement is directed only atrelevant persons and must not be acted on or relied on by persons who are notrelevant persons. In addition, if and to the extent that this announcement iscommunicated in, or the offer of securities to which it relates is made in, anyEEA member state that has implemented Directive 2003/71/EC (together with anyapplicable implementing measures in any member state, the "ProspectusDirective"), this announcement and the offering of any securities describedherein are only addressed to and directed at persons in that member state whoare qualified investors within the meaning of the Prospectus Directive or in anyother circumstances falling within Article 3(2) of the Prospectus Directive (orwho are other persons to whom the offer may lawfully be addressed) and must notbe acted on or relied on by other persons in that member state. Thisannouncement does not constitute a prospectus within the meaning of theProspectus Directive or an offer to the public.This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1377526]
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Datum: 27.01.2010 - 02:35 Uhr
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