Norway's Sevan carried out $158 mln bond issue

Norwegian oilfield services group Sevan Marine (SEVAN.OL: Quote, Profile, Research) completed an 870 million Norwegian crowns ($157.6 million) bond issue to finance a new oil production vessel, the company said on Thursday.

The five-year bond has a coupon of NIBOR plus 5.5 percent and the proceeds will be used partly to finance construction in China of the Sevan Voyageur floating production, storage and offloading (FPSO) vessel, Sevan Marine ASA said in a statement.

Pareto Securities and Fearnley Fonds advised Sevan Marine in the transaction, it said.