Staatsolie Maatschappij Suriname N.V. is launching a new bond to raise at least US$ 250 million and EUR 50 million. The funds will be used to support Staatsolie’s participation in the development of the GranMorgu offshore oil field in Block 58. The official launch of the bond issuance took place on 31 January 2025.
The Staatsolie Bond 2025-2033, which is available in both US dollars and euros, takes effect on 23 March 2025, and has an eight-year term. The interest rate is set at 7.75% for the US$ bond and 7.25% for the EUR bond. Investors can participate from as little as US$ 100 or EUR 100, making it accessible to as many people in Suriname as possible. For larger investors residing in Suriname, Curaçao, or Sint Maarten, a denomination of US$ 30,000 is available.
The subscription period runs from 3 February to 25 February, with allocation on 10 March. Payments can be made from 10 March to 18 March. Subscribing is made very accessible and can be done online or at any bank in Suriname. The subscription form and all relevant details can be found at www.staatsolieobligatie.com. De Surinaamsche Bank (DSB) is the lead arranger for this bond issuance. The bonds will be publicly tradable on the Dutch Caribbean Securities Exchange (DCSX) and the Suriname Stock Exchange (SSX).
As outlined in the production-sharing contract, Staatsolie will take up to a 20% stake in the first-ever offshore oil field in Suriname, the GranMorgu field in Block 58. The total investment for the project is estimated at US$ 12.2 billion, with Staatsolie’s share amounting to US$ 2.4 billion. The proceeds from this bond issuance will help Staatsolie finance its portion, reducing the need for bank loans. The company has also set aside cash reserves for the GranMorgu investment. Another key objective of this bond issuance is to refinance the Staatsolie Bonds 2020-2025 and 2020-2027, which previously raised US$ 195 million to support the 2020-2027 investment program.
Over the years, Staatsolie has consistently delivered strong financial and operational performance, playing a vital role in Suriname’s economy. In the past three years, Staatsolie’s contribution to the country’s GDP averaged 9.5%, while its share in government revenues stood at around 32%. Staatsolie is driven by its mission to contribute to Suriname’s progress. GranMorgu marks a new beginning for the nation. With this investment, Staatsolie is taking a major step toward realizing its vision: "Energizing a bright future for Suriname." The success of Staatsolie’s three previous bond issuances proves that confidence in our own capabilities is the foundation of our strength and stability.
Confidence in our own abilities
