HMH taps banks for new bond to refinance existing debt

HMH, a 50% owned affiliate of Akastor ASA, has mandated DNB Carnegie, Nordea, Arctic Securities, and Pareto Securities as joint bookrunners. These banks will arrange a series of fixed income investor meetings.

The net proceeds from this contemplated bond issuance will primarily be used to refinance HMH's existing senior secured bond, HMHH02, which matures on November 16, 2026. HMHH02 is listed with ISIN NO0013063495.

HMH was formed in October 2021 through the merger of Baker Hughes' Subsea Drilling Systems business and Akastor ASA’s MHWirth AS. The company provides drilling solutions.