Pandion Energy has established long-term interest-bearing debt financing consisting of the following bank and bond loans:
Reserve based lending (“RBL”) facility
The RBL facility was established in 2018 as a USD 150 million senior secured seven-year facility. In 2019, the maturity was extended by one year, until 1 July 2026. In 2022, the RBL facility was amended and extended to a new USD 200 million seven-year facility with an additional uncommitted accordion option of USD 200 million. The interest rate is from 1-3 months SOFR plus margin of 3.5%.
Senior Unsecured Bond
The USD 75 million senior unsecured bond was issued in 2022 and runs from June 2022 to June 2026. The bond carries a fixed interest rate of 9.75%.
The Company intends to list the senior unsecured bond at the Nordic Alternative Bond Market, Nordic ABM, a list of registered bonds for which Oslo Børs (i.e. Oslo Stock Exchange) determines the rules in consultation with market participants.
Interim financial statements are made available for download below.
For further information, please contact:
Hege Peters, VP Finance & Business Support
+ 47 996 18 485