Latham Advises Vår Energi on US Dollar and Euro Bond Issuances Totaling Over US$2.5 Billion

Latham & Watkins has advised Vår Energi ASA on a US$1.5 billion dual-tranche senior notes issuance and a separate €1 billion senior notes issuance. The offering of dollar notes comprised US$750 million of 5.875% senior notes due 2030 and US$750 million of 6.500% senior notes due 2035. The offering of euro notes comprised €1 billion of 3.875% senior notes due 2031, issued as a drawdown under Vår Energi’s EMTN Program.

Vår Energi is a leading independent upstream oil and gas company on the Norwegian Continental Shelf, with a diversified asset portfolio and a strong exploration track record. The company is committed to safe and responsible operations, aiming to become carbon neutral in its net equity operational emissions by 2030.

The Latham team was led by London corporate partners Jennifer Engelhardt and Matthew Schneider, and Dubai partner Basil Al-Jafari, with London associates Alex Despotovic and Caroline Koller, and Dubai associate David Hayward.