Carey Olsen advises on $500m senior secured bond
Carey Olsen has advised Paratus Energy Services Limited, a leading energy services holding company incorporated in Bermuda, on the successful private placement of $500 million in new five-year senior secured bonds with a 9.5 per cent coupon rate.
According to the firm, the transaction marks one of the largest bond issuances in the Nordic bond market in recent years and was significantly oversubscribed, reflecting robust investor confidence and strong market demand.
“The successful issuance underscores Paratus’ strong market position and strategic financial planning, while also highlighting Carey Olsen’s expertise in navigating complex financial markets and delivering exceptional legal services,” a spokesman for Carey Olsen said.
The Carey Olsen Bermuda corporate team which advised on the transaction comprised partner Steven Rees Davies, counsel Alexander Collis, associate Matthew Dulaney and pupil Isabella Zuill-McKenzie, working alongside Norwegian law firm Schjødt.
Mr Davies said the oversubscription of the bond issuance was a testament to Paratus’ solid business fundamentals and the trust placed in them by the investment community.
“Our team’s dedication, expertise and responsiveness were instrumental in helping facilitate this successful transaction,” he said.
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