2018 NOK Bond

9.75% REC Silicon ASA Open Putable Bond Issue 2011/2018

REC Silicon ASA issued new senior, unsecured bonds in the Norwegian market of NOK 500 million and NOK 700 million, with tenors of 5 and 7 years respectively on April 12, 2011. As part of the bond offering, REC Silicon bought-back NOK 600 million of the outstanding bonds under REC01 (the NOK 1,250 million bond). The primary purpose of the transactions was to extend the company’s debt maturity profile.

In May 2013 the Company utilised its tap issue options to issue new senior, unsecured bonds for a nominal amount of NOK 213 million under each of the 2016 and 2018 bond issues.
In November 2013 the Company repurchased NOK 612.5 million of the bond, representing 67 percent of the outstanding amount.

The 2018 bond is senior debt of the issuer and is ranking at least pari passu with all other obligations of the issuer and shall rank ahead of subordinated debt.

Interest payment is paid annually in arrear; each 3 May.