Published: October 21, 2013
Dubai-based oilfield services company starts global roadshow ahead of US$350mn issuance.
Topaz Marine, a Dubai-based oilfield services company, hopes to raise US$350mn through five-year dollar-denominated bonds.
The company, a subsidiary of Oman’s Renaissance Services, has hired Standard Chartered Bank, HSBC and Goldman Sachs to act as global coordinators, launching an international roadshow today (October 21).
Clarkson Capital Markets, DVB Capital Markets and Pareto, RBC Capital Markets are co-managers on the deal.
The company will use the proceeds to repay existing debt, fund capital expenditure and boost its cash reserves.
Topaz operates a fleet of more than 90 offshore support vessels, offering services such as anchor-handling, platform supply, emergency recovery and response, and crew transfer to clients in the offshore oil and gas industry.