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In October 2021, Welltec International ApS completed the issuance of USD 325 million 8.25% Senior Secured Notes.

Company profile

Welltec® is a global technology company that develops and provides efficient, hi-tech solutions for the energy industry.

 

The company was founded in 1994 and grew rapidly by supplying innovative robotic technology to oil and gas operators. 

In 2010, Welltec introduced a new business segment focused on the development of Completion products. Commercialization of these products began in 2014, and the company is now a global leader in the field of metal expandable packer technology. Welltec’s cutting-edge products and services are designed to optimize the performance and integrity of a well, in any environment.

Through advanced engineering and lightweight design, Welltec’s solutions have helped clients increase operational efficiency and reduce carbon footprints in a safe and sustainable way for more than 25 years.

Welltec operates globally and has in-house manufacturing facilities in Denmark, Brazil, Russia, and Saudi Arabia, and design and engineering facilities in Denmark, the USA, Brazil, and Scotland (Aberdeen).

 

Bond programme

The completion of the USD 325 million aggregate, 8.25% Senior Secured Note offering (‘The Notes’) due in 2026 was announced on September 30, 2021. The 144A/RegS offering drew significant demand from institutional investors in both Europe and the US.

Outstanding bonds

Issuer Welltec
Rule 144A
Amount USD 115,050,000
Coupon 8.25%
Issue Date 15-10-2021
Maturity 15-10-2026
Interest Date 01-06 & 01-12
ISIN US95039LAA61
Issuer Welltec
Rule Regulation S
Amount USD 209,950,000
Coupon 8.25%
Issue Date 15-10-2021
Maturity 15-10-2026
Interest Date 01-06 & 01-12
ISIN USK9900LAA19

Annual report 2021

Despite entering into 2021 in a very difficult market with declining spend in the oil and gas business, combined with regional lock downs, that made it very difficult to move staff and equipment around, Welltec achieved an increase in revenue and a positive net-profit, which management find to be a satisfactory result for the year.

Download our annual report here:

Annual report 2020

While we believe our business to be relatively unaffected by macro-economic factors, it is ultimately affected by the level of expenditures of companies engaged in the production, exploration and development of oil and gas.

A decrease in operating expenditures may have adverse effects on Welltec’s revenue and profits in the shorter term, while a decrease in the capital expenditures may have adverse effects on Welltec’s revenue and profits in the longer term.

Download our annual report here:
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Investor room contact

Please contact Mr M. B. Rasmussen to obtain your password

Finance director, Treasury

Mads Brixtofte Rasmussen

Welltec A/S


+45 5213 8385

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