Electromagnetic Geoservices (EMGS) has launched a bond buyback to redeem debt maturing in 2019.

The Oslo-listed seismic survey ship player said it was willing to purchase the entire issue at 70% of par value.

The offer expires on 28 March.

The NOK 270m ($31.8m) bond was sold in 2013 and carries interest of three months Nibor plus a margin.

The company reduced its fourth quarter loss to $14.9m,