Rex International subsidiary Lime Petroleum plans super senior bond to cover overdue cash calls

SGX Filings

Apr 16

Rex International Holding Limited said on Apr, 16 2026 that its indirect subsidiary Lime Petroleum Holding AS has announced a new super senior bond issue for its subsidiary Lime Petroleum AS.

The proceeds, to be held in escrow with Nordic Trustee, are earmarked to settle overdue cash call obligations on the Norwegian Continental Shelf licences and to provide liquidity while a broader restructuring is underway.

As part of the restructuring, new boards were elected at Lime Petroleum Holding and Lime Petroleum AS during an extraordinary general meeting on Apr, 10 2026. Kristen Jakobsen chairs both boards, joined by Aage Figenschou, Christopher Atkinson and Knud Nørve, with Ida Collet Sælør, Wenche Lundby and Victoria V. Fondenær added to the Lime Petroleum AS board. Rex International Chief Executive Officer Per Lind will serve as a non-voting observer.

The bond will be secured by existing pledges, including Rex International Investments Pte. Ltd.’s shareholding in Lime Petroleum Holding and all shares in Lime Petroleum Holding’s subsidiaries. Rex International said it is consulting legal advisers and will update the market on any material developments.

The company advised shareholders and potential investors to exercise caution when trading its shares.

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