04/16/2021 | Press release | Distributed by Public on 04/16/2021 03:49
Tulip Oil Netherlands Offshore BV
16 of April, 2021
Fixed income investor calls
Reference is made to the announcement released by Tulip Oil Netherlands Offshore B.V. (the 'Company') on 12 March 2021 regarding the contemplated sale by Tulip Oil Holding B.V. of its subsidiary Tulip Oil Netherlands B.V. to Kistos plc (the 'Sale'). In connection with the Sale, ABG Sundal Collier and Pareto Securities have been mandated to arrange a series of fixed income investor calls for the Company commencing 19 April 2021. A EUR 90 million denominated senior secured bond issue with a 3.5-year tenor (the 'EUR 90 Million Bond Issue') may follow, subject to inter alia market conditions. The purpose of the EUR 90 Million Bond Issue will be to finance a mandatory prepayment of the Company's outstanding EUR 87 million bond (TUON01) with maturity 25 October 2022 upon completion of the Sale.
In addition to the EUR 90 Million Bond Issue, the Company is contemplating to issue a EUR 60 million denominated senior secured bond issue with a 5-year tenor (the 'EUR 60 Million Bond Issue'). The EUR 60 Million Bond Issue will be issued as payment in kind to Tulip Oil Holding B.V. as part of the consideration for the Sale to Kistos plc. Both the EUR 90 Million Bond Issue and the EUR 60 Million Bond Issue will be guaranteed by Kistos plc.
Notes to the Editor:
THIS IS NOT INTENDED FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA OR ANY JURISDICTION OR COUNTRY WHERE SUCH DISTRIBUTION OR USE WOULD BE CONTRARY TO LOCAL LAW OR REGULATION OR WHICH WOULD REQUIRE ANY REGISTRATION OR LICENSING WITHIN SUCH JURISDICTION
Tulip Oil Netherlands Offshore B.V. is a subsidiary of Tulip Oil Holding B.V., a privately-held exploration and production operator based in The Hague. The Company operates assets in both the Netherlands and in Germany and is owned by funds advised by GNRI, management and staff.
Email: [email protected]
Telephone: + 31707470300
Certain statements included in this announcement contain forward-looking information. By their nature, forward-looking statements involve uncertainty because they depend on future circumstances, and relate to events, not all of which are within Tulip Oil's control or can be predicted by Tulip Oil. Although Tulip Oil believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Actual results could differ materially from those set out in the forward-looking statements. Any forward-looking statements made herein by or on behalf of Tulip Oil speak only as of the date they are made and Tulip Oil expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.