NORWAY - SCAN closes a NOK 202.5m subordinated convertible bond issue

SCAN Geophysical ASA, which Norvestor IV LP holds a 35.5% stake in, has closed a NOK 202.5m subordinated convertible bond issue towards existing shareholders and new investors. The unsecured bonds have a fixed interest rate of 7% per annum, maturity of five years and a conversion price of NOK 27 per share. Norvestor IV LP participated in the issue with its relative share.