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REC ASA Bond Issue Completed

REC has completed the issue of a five-year fixed rate bond loan in the Norwegian bond market

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

REC announced the launch of a five-year bond issue. The bond loan was very well received in the market, and the company decided to close the transaction when the books reached NOK 1,250 million. The bond loan pays a fixed spread of 690 basis points and settles on Sept. 16, 2009, with maturity on Sept. 16, 2014.

DnB NOR Markets, Nordea Markets and SEB Merchant Banking acted as joint arrangers for the bond issue.

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