HMH Holding B.V. – Successful placement of a senior secured bond issue

Oslo, 2 November 2023

Reference is made to the stock exchange notice from HMH Holding B.V. (the “Company”) dated 30 October 2023 regarding a contemplated new senior secured bond issue.

The Company is pleased to announce the successful placement of a new USD 200 million senior secured bond issue with a 3 year tenor and a fixed coupon of 9.875 % per annum (the “Bonds”). The Bonds will be secured on a first lien basis in a shared security package with, inter alia, a USD 50 million super senior secured revolving credit facility. The net proceeds from the Bonds, together with cash on balance sheet, will be applied towards (i) settlement in full of the Company’s existing USD 150 million senior secured bond issue with ISIN NO0012428996 (“HMHH01”), (ii) full repayment of existing bank borrowings, and (iii) general corporate purposes. The Company will issue a call notice for full repayment of HMHH01 at the prevailing call price in due course.

The Company intends to seek for listing of the Bonds on Oslo Børs.

DNB Markets and Nordea acted as Global Coordinators and Joint Bookrunners and Arctic Securities and Pareto Securities acted as Joint Bookrunners.
This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.

About HMH

HMH is a premier drilling solutions provider, which was formed as an independent company in October 2021 through the merger of Baker Hughes’ (NYSE: BKR) Subsea Drilling Systems business and Akastor ASA’s wholly owned subsidiary, MHWirth AS.

HMH combines integrated delivery capabilities, capital, renowned industry expertise and delivers the full range of offshore drilling equipment products and packages at scale. HMH aims to support the industry’s transition toward more energy-efficient solutions, as well as deploying technologies and service solutions to make the sector more competitive through increased drilling efficiency. Moreover, the Company’s service and technology portfolio will be utilized as a springboard for future growth, both within drilling services and when pursuing opportunities towards adjacent industries such as renewables and mining.

For further information, please visit our homepage: https://hmhw.com/