Latest news with #bondissue
Yahoo
4 days ago
- Business
- Yahoo
BW Energy: Fixed Income Investor Meetings
Fixed Income Investor Meetings 06 June 2025 BW Energy has engaged Pareto Securities as Global Coordinator together with Arctic Securities as Joint Bookrunners to arrange a series of fixed income investor meetings. Fearnley Securities and Sparebank1 Markets are acting as Co-Managers. Subject to inter alia market conditions and acceptable terms, a new senior unsecured bond issue of USD 300 million with a tenor of five years may follow. The purpose of the bond issue is for general corporate purposes. Holders of BWE01 bonds will be offered to roll-over their bonds into the new contemplated bond issue. BW Group (76.5% shareholder and primary insider through Mr. Andreas Sohmen-Pao) has the intention to subscribe and be allocated USD 100 million in the new bond including roll-over of USD 38.5 million of their existing BWE01 bonds. CEO Carl Arnet will also subscribe and be allocated USD 2.5 million in the new bond including roll-over of USD 2 million of his existing BWE01 further information, please contact: Brice Morlot, CFO BW Energy +33.7.81.11.41.16 ir@ About BW Energy: BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company's assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 ("PEL 73") in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025. This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Regine Andersen, 06 June 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
28-05-2025
- Business
- Wall Street Journal
Telegram Set to Raise $1.5 Billion in Bond Issue Despite CEO's Legal Woes
When messaging app Telegram was pitching a bond sale in the U.S. earlier this month, its chief executive was stuck in France facing criminal charges. That hasn't stopped the company from winning over investors. Telegram on Wednesday is set to raise at least $1.5 billion in a bond issue, according to people familiar with the matter, winning support from both new and existing backers. The deal is a sign investors remain willing to back Telegram despite the legal jeopardy facing Pavel Durov, who faces preliminary charges in France of refusing to cooperate with investigations into illegal activity such as child pornography on his app. Durov and Telegram dispute French officials' contention that the company was uncooperative with criminal probes. Telegram is set to price the five-year bond at a 9% yield, the people said. It plans to use the proceeds to buy back remaining debt from bonds it issued in 2021, which are due to mature next March. The company previously bought back roughly $400 million of those bonds with cash. Among the investors are existing Telegram bondholders, including U.S.-based asset manager BlackRock and Abu Dhabi's state-owned investment company, Mubadala, the people said. New investors are expected to include hedge-fund firm Citadel among others, the people said. Like with Telegram's earlier bond issue, investors in the new bond will have the option to convert their debt into shares at a discount if the company decides to go public. An initial public offering, though, is seen as unlikely in the near term given Durov's legal uncertainty and market volatility. While Durov has been released on bail, he is barred from leaving France without permission while the investigation continues. Durov asked on May 12 for a special exemption to visit the U.S. for negotiations with investors, but the request was denied because the reason for the trip was 'neither compelling nor justified,' French prosecutors said. French officials previously allowed Durov to travel in March and April to Dubai, where he lives and where Telegram is based. In 2021, both France and the United Arab Emirates granted citizenship to Durov, who was born in Russia. It remains unclear how long Durov will be stuck in France. In the French system, preliminary charges kick off a lengthy probe by investigating magistrates, who will decide whether to send the case to trial or drop the charges. 'We complied with all the binding legal requests we received. So up until this day, we don't understand what we did wrong,' Durov said via video from France at a conference Tuesday in Oslo. Against the backdrop of the legal jeopardy, Telegram has continued growing. In March, Durov said the app hit 1 billion users active each month. On Tuesday, he said the app had more than 15 million paid subscribers, doubling in the past year. Telegram has told investors it generated a profit of roughly $540 million for 2024 on revenue of $1.4 billion, according to people familiar with the matter. That is up from a loss of $173 million on revenue of $342 million in 2023, according to financial statements seen by The Wall Street Journal. For 2025, Telegram is projecting a profit of more than $700 million on revenue of $2 billion, people familiar with the matter said. Telegram's financials have been buoyed by partnerships with developers that build apps and bots on top of the company's services, in-app purchases of digital 'stars' to send gifts and buy services, on top of its advertising business. Write to Sam Schechner at and Ben Dummett at
Arabian Business
08-05-2025
- Business
- Arabian Business
Abu Dhabi's ADQ raises $2bn in oversubscribed bond sale
Abu Dhabi Developmental Holding Company PJSC (ADQ) announced 4.5-5 per cent coupon rates for its $2 billion bond issue. While the five-year $1 billion tranche will have an annual coupon rate of 4.50 per cent, the 10-year $1 billion tranche will have a 5.00 per cent coupon rate, the sovereign fund said. The final pricing is 30 basis points lower than the initial pricing plan, the fund indicated. Strong demand for ADQ bonds 'The transaction achieved the lowest five-year yield and the second-lowest ten-year yield among non-Sukuk issuances from the GCC region year to date 2025,' it said. The combined order book surpassed $7 billion, marking a more than 3.5 times oversubscription for the issue. The issuance marked ADQ's third offering in international debt capital markets and will support the diversification of its funding sources. Proceeds will provide growth capital and fund projects that advance the fund's mandate and long-term growth ambitions, the fund said. The issuance capitalised on sustained demand for high-quality, investment-grade bonds from emerging markets, while demonstrating ADQ's credit resilience during a period of market volatility and strong investor confidence in Abu Dhabi's economy. The fund said the issuance accomplished broad institutional distribution from major investors across Asia, the US, the Middle East, the UK and Europe. The transaction achieved ADQ's widest distribution to Asian investors to date, it said. Marcos de Quadros, Group Chief Financial Officer at ADQ, said the fund is pleased to have, once again, achieved very broad investor diversification, as well as a strong level of oversubscription across both tranches. 'The success of this issuance demonstrates global investor confidence in ADQ's credit strength and continued recognition of our value proposition, as well as in the stability and long-term prospects of Abu Dhabi's economy. It also underlines the appeal of bond issuances with attractive fundamentals in this market environment,' he said. The $2 billion third offering follows ADQ completing its second bond issue in September 2024. The dual-tranche offering included seven- and thirty-year tenors and achieved an oversubscription of more than 4.1 times. As of December 31, 2024, the fund's total assets amounted to $251 billion, it said. ADQ, which focuses on investing in critical infrastructure and global supply chains, has shareholdings in more than 25 portfolio companies, structured into eight economic clusters which cover key sectors of the Abu Dhabi economy. The fund is rated Aa2 by Moody's and AA by Fitch, both with a stable outlook.
Yahoo
07-05-2025
- Business
- Yahoo
Voters again reject Beavercreek Schools bond issue
Beavercreek voters rejected a bond issue to build a new high school and renovate its current buildings. Over 60 percent of voters rejected the measure. As previously reported by News Center 7, the bond issue failed in the election last November. TRENDING STORIES: Beavercreek City School District put the same 4.9-mil, $265 million bond issue on the primary ballot this year in hopes of a different result. The bond issue would have cost property owners $172 for each $100,000 of their property value, according to the county auditor's appraisal. The bond would last 37 years.
