Topaz Energy and Marine Limited, a leading offshore support vessel company, has successfully completed the issuance of US$375 million 9.125% Senior Notes due 2022 through its subsidiary, Topaz Marine S.A.
The gross proceeds from the Notes will be used to repurchase and redeem the Issuer’s existing US$350 million 2018 notes and to pay the fees and expenses related to the transactions.
About Topaz Energy and Marine
Topaz Energy and Marine is a leading international offshore support vessel company providing logistics support and marine solutions to the global energy industry with primary focus on the Caspian Sea, in addition to the Middle East, West Africa and Subsea operations in the North Sea and the Pacific. Headquartered in Dubai, Topaz Energy and Marine operates an existing fleet of 97 offshore support vessels (as of March 31, 2017) of an average age of approximately 9 years. Topaz Energy and Marine is a subsidiary of Renaissance, a publicly traded company listed on the Muscat Securities Market in Oman. In addition, Standard Chartered Private Equity holds a minority position in the company.