Bond 2021 6,35% and 2026 7,35%

 

Key Information

Bond 2021
Issuer: Odebrecht Drilling Norbe VIII/IX Ltd
Guarantors: Odebrecht Drilling Norbe Eight GmbH e Odebrecht Drilling Norbe Nine GmbH
Tranche 1
Amount: US$ 500 MM
Interest Rate: 6,35% p.a. cash pay (quartely payments)
Maturity: 12/01/2021
Amortization
Variable Amortization: 100% of 2021 Notes ECF (less the Remaining Tranche 2 Interest Payment) sweeps to Tranche 1 (until fully repaid)
Oustanding Amount (Dec/21): Fully Repaid in September, 2021
Tranche 2
Amount: US$ 590,9 MM
Interest Rate: Cash Pay: 6,35% p.a. (PIYC)
PIK: 1,00%
Maturity: 12/01/2026
Variable Amortization: Following repayment of Tranche 1, principal on Tranche 2 payable quarterly in amount of Tranche 2 Notes ECF Amount
Oustanding Amount (Dec/21): US$ 743,5 MM

 

Analyst Coverage

Analyst Company Phone Email
Anne Milne Bank of America Merrill Lynch +1-646-855-4096 anne.milne@bofa.com
Marcela Nagib HSBC +1-402-206-2880 marcela.nagib@us.hsbc.com

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