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    Topaz Marine prices offering of Senior Notes

    Company News // July 21, 2017

    Topaz Marine SA, a subsidiary of Topaz Energy and Marine Limited and an indirect subsidiary of Renaissance Services SAOG, has successfully priced an offering of US$375 million Senior Notes due 2022 at a fixed coupon of 9.125 per cent per annum and at an issue price of 100.000 per cent.

    The offering is expected to close on 26 July 2017, subject to customary closing conditions. The notes are guaranteed on a senior unsecured basis by the company and certain of the company’s subsidiaries.

    The gross proceeds from the issue and sale of the notes will be used to repurchase the issuer’s existing US$350 million 8.625 per cent Senior Notes due 2018 in connection with the issuer’s concurrent tender offer, to fund the redemption of the existing notes not purchased through the offer and to pay the fees and expenses related to the offering, the redemption and tender offer.

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