Paramaribo, 31 January 2025 – Staatsolie Maatschappij Suriname N.V. has announced the launch of its new bond issuance, aiming to raise at least US$ 250 million and EUR 50 million. The funds will support Staatsolie’s 20% stake in the GranMorgu offshore oil field in Block 58, marking a significant step in Suriname’s energy sector.

Bond Details & Key Dates

The Staatsolie Bond 2025-2033 offers investors the opportunity to participate in Suriname’s energy future with an eight-year term and competitive interest rates:

• 7.75% for the US$ bond
• 7.25% for the EUR bond

The bond is accessible to a wide range of investors, with a minimum subscription of US$ 100 or EUR 100. Larger investments of US$ 30,000 are available for investors in Suriname, Curaçao, and Sint Maarten.

Important Dates:

• Subscription Period: 3 – 25 February 2025
• Allocation: 10 March 2025
• Payment Period: 10 – 18 March 2025
• Effective Date: 23 March 2025

Investors can subscribe online or at any bank in Suriname. The bonds will be publicly tradable on the Dutch Caribbean Securities Exchange (DCSX) and the Suriname Stock Exchange (SSX). De Surinaamsche Bank (DSB) is the lead arranger for this issuance.

Financing a Historic Energy Project

The GranMorgu project represents a historic milestone as Suriname’s first offshore oil development, with a total investment of US$ 12.2 billion. Staatsolie’s share of US$ 2.4 billion will be financed through a combination of bond proceeds and cash reserves, reducing the need for external bank loans.

Additionally, part of the funds will be used to refinance previous bond issuances (2020-2025 & 2020-2027), which raised US$ 195 million for Staatsolie’s investment program.

Staatsolie’s Continued Commitment to Growth

As a key driver of Suriname’s economy, Staatsolie has maintained strong financial performance, contributing 9.5% to GDP and 32% to government revenues over the past three years.

“With this bond issuance, we are taking a major step toward realizing our vision: ‘Energizing a bright future for Suriname,’” Staatsolie stated.

For more information and to subscribe, visit: https://www.staatsolie.com/en/news/staatsolie-issues-new-bond/#:~:text=The%20official%20launch%20of%20the,has%20an%20eight%2Dyear%20term