Carnegie Investment Bank is proud to have acted as Joint Bookrunner in PGS’ successful NOK 1,536 million directed share issue.
The Company intends to use the net proceeds from the Private Placement to reduce its leverage. The proceeds will position PGS to manage 2023 debt amortization and extend the re-financing window to March 2024. A strengthened balance sheet, together with the ongoing market recovery in the marine geophysics market, will reduce the refinancing risk and the expected cost of a refinancing.
Completion of the transaction is subject to EGM approval (expected 23 November 2022).
Carnegie congratulates Rune Olav Pedersen, Gottfred Langseth and the rest of the PGS team with the successful transaction.