Aker BP ASA Initiates Multi-Tranche Notes Offering

Aker BP ASA (GB:0M5J) has released an update.

Aker BP ASA has announced the launch of a multi-tranche offering of U.S. Dollar-denominated senior unsecured notes, with the specific terms to be set based on market conditions. The company also plans to repurchase its outstanding senior notes due in 2025 and 2026 through cash tender offers, contingent on a minimum of $500 million from the new offering. The proceeds from this offering are intended for general corporate purposes and funding the tender offers.

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