Rex International Holding, a leading oil exploration and production company, has announced that its subsidiary, Lime Petroleum AS, successfully raised NOK 50 million (around US$4.8
million) via a bond tap mechanism. This additional funding forms part of Lime’s existing Senior Secured Bond (ISIN NO0012559246), bringing the total bond issuance to NOK 1.25 billion (approximately US$120.2 million). The settlement for the tap issue is set to take place on 21 April 2023, with the bonds being issued at 99% of their nominal value.
This strategic move strengthens Lime Petroleum’s financial position, allowing it to continue driving its exploration and production efforts.