Siem raises $117m

Norway’s Siem Offshore has sold NOK 700m ($117m) of new bonds in a hot Oslo market.

The company said it will list the notes this week on the Oslo exchange.

The bonds mature in March 2019.

The interest rate is 6.11%.

Arctic Securities managed the issue, which was first trailed back in March.

Investor Kristian Siem’s Siem Industries had agreed to take 33.3% of the issue.