Topaz Marine to Raise $350 Mln via Senior Notes

Topaz Marine S.A., a wholly owned indirect subsidiary of Topaz Energy and Marine Limited and an indirect subsidiary of Renaissance Services SAOG, announces the offer of up to US$350 million in Senior Notes due 2018.

The Notes will be guaranteed on a senior unsecured basis by Nico Middle East Limited (“NMEL”), a wholly owned subsidiary of the Company and the direct parent of the Issuer. Certain of NMEL’s subsidiaries (together with NMEL, the “Guarantors”) will also guarantee the Notes on a senior unsecured basis.

The gross proceeds from the issue and sale of the Notes will be used to repay certain facilities, to fund capital expenditure, to increase cash on balance sheet and to pay the fees and expenses related to the offering and sale of the Notes.

The Notes are being offered only to qualified institutional buyers in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the “Securities Act”) and outside the United States in accordance with Regulation S under the Securities Act. The Notes are expected to be admitted to trading on the Global Exchange Market of the Irish Stock Exchange.

Press Release, October 21, 2013

 

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