Petroleum Geo-Services AS – Exercise of call option for PGEOS01

    Petroleum Geo-Services AS – Exercise of call option for PGEOS01

OSLO, Norway (20 November 2024) – Further to announcement by TGS ASA (“TGS”) on 20 November 2024, TGS' subsidiary, Petroleum Geo-Services AS, has today given a conditional notice of exercise of its option to redeem all outstanding bonds under the Petroleum Geo-Services AS 13.50% Senior Secured USD 450,000,000 Bond Issue (PGEOS01) with ISIN NO0012873670 (the "Bonds"). The Bonds will be redeemed at a price equal to 109.5% of the face value for each redeemed Bond, which constitutes the Make-Whole Amount under the Bonds.

In accordance with the terms of the Bonds, the settlement date for the call is expected to be 5 December 2024. Further reference is made to the attached conditional notice from Nordic Trustee AS for additional information.

For more information, visit TGS.com or contact: 

Bård Stenberg 
IR & Communication 
Mobile: [phone] 
[e-mail] 

About TGS 
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