Nov 2025
Conyers advised Odfjell Drilling Ltd. (“Odfjell Drilling”) in connection with new US$650 million senior secured first lien bonds (the “Bonds”) due March 2031.
The Bonds carry a fixed coupon of 7.25% payable semi-annually, were successfully priced on 21 November 2025 and an application will be made for listing on the Oslo Stock Exchange within nine months of the issue date. The proceeds from the Bonds will be used to refinance existing debt, partly finance the acquisition of Deepsea Bollsta, and general corporate purposes.
Conyers advised on all Bermuda law aspects of the bond issuance and security.
Director Guy Cooper, Senior Assocaite Jacari Brimmer-Landy and Ashley Bento of Conyers’ Bermuda office advised on this matter, working alongside Wikborg Rein.