PGS to Raise $95M in New Equity to Refinance Debt

Norway’s seismic surveyor PGS plans to raise up to 850 million Norwegian crowns ($95 million) in new equity via a private placement to partly refinance its debts maturing in the next 18 months, the company said on Tuesday.

The Oslo-listed company said it would use the proceeds from the private placement to partly redeem its $212 million senior unsecured notes due in December 2022.

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