Lime Petroleum Holding AS, a subsidiary of Rex International Holding (SGX:5WH), sold 50 million Norwegian kroner of bonds through the tap mechanism in its existing senior secured bond, according to a Wednesday filing on the Singapore Exchange.
The sale, triggered by a reverse inquiry from a large institutional investor, brings the total outstanding amount of the senior secured bonds to 1.70 billion Norwegian kroner. Settlement is set for Feb. 19.
Proceeds will go toward general corporate purposes, including development capital expenditure in the Norwegian Continental Shelf and working capital.
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