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Arendal

Full company profile

uuid000e1ih

Namestring
Arendal
Legal namestring
Arendal
Websiteurl
arendal.com.mx
Company typeenum
Private
Founded yearint
1995
Descriptiontext

Arendal is a Mexican EPC (Engineering, Procurement, and Construction) contractor founded in 1995 in Monterrey, Nuevo León, operating across four primary verticals: oil and gas, energy, infrastructure, and mining. The company delivers complex industrial infrastructure projects including onshore and offshore pipeline construction (up to 48 inches in diameter), horizontal directional drilling (HDD) and land-sea shore approaches, subsea construction to 120-125 meter depths, industrial plant construction, power generation facilities, electrical transmission infrastructure, civil works, and mining processing plants. Its core technology platform is SIGA (Sistema Integral de Gestión Arendal), a proprietary integrated management system incorporating 3D electronic modeling and planning tools, supplemented by what the company describes as Latin America's largest HDD equipment fleet including directional drilling rigs with 1 million pounds of pull force — making it the only regional contractor capable of direct execution for both terrestrial and marine scopes.

Arendal serves large enterprise and government clients including TC Energy, Kinder Morgan, New Fortress Energy, Hokchi Energy, CFE (Mexico's federal electricity commission), and Barrick, executing project-based contracts valued in the millions to tens of millions of dollars per engagement. The company maintains offices in Monterrey (headquarters), Mexico City (business development), Ciudad del Carmen/Campeche (offshore works), Santo Domingo (Caribbean and Central America regional HQ), and Bogotá (South America regional HQ), with operating presence in Costa Rica and Jamaica. Revenue is generated through one-time EPC contracts awarded through direct enterprise sales and competitive bidding, with pricing custom and quote-based for each project given the bespoke nature of industrial infrastructure work.

The firm holds ISO 9001:2015 (Quality), ISO 14001:2015 (Environmental), and ISO 45001:2018 (Occupational Health and Safety) certifications from DNV, along with ISN membership enabling access to major oil and gas procurement platforms. Over 25 years, Arendal has completed 120-125 projects including 50+ directional crossings and the last 7 Land-Sea shore approaches built in Mexico. Headcount is reported in the 5,001-10,000 range. The company is privately held with no disclosed institutional investors, funding rounds, or parent company structure.

Short descriptiontext

Arendal is a Mexican EPC contractor founded in 1995 that delivers complex industrial infrastructure projects including pipelines, HDD drilling, offshore construction, power plants, and mining facilities for enterprise clients across Latin America's oil and gas, energy, infrastructure, and mining sectors.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
5,001–10,000
akta.pro rankint
HeadquartersGarza García, Mexico
HQ citystring
Garza García
HQ countrystring
Mexico
HQ regionstring
Latin America
Markets served

Serves global market

Offices5 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
EPC construction services, pipeline construction, offshore construction services, industrial plant construction, horizontal directional drilling
Industry4 codes
1Oil & Gas Processing & LNG Facility Construction
CodeIMAFADABPrimaryYes
2Balance-of-Plant (BOP) & Civil Works for Power Plants
CodeEUAEAAALPrimaryNo
3Mine Development & Processing EPC (Critical Minerals)
CodeIMAKAFAMPrimaryNo
4Substation EPC & construction (AIS/GIS, greenfield/brownfield)
CodeEUADAKACPrimaryNo
NAICS code3 codes
  • Oil and Gas Pipeline and Related Structures Construction237120
  • Heavy and Civil Engineering Construction237
  • Power and Communication Line and Related Structures Construction237130
SIC code2 codes
  • Heavy Construction Other Than Bldg Const - Contractors1600
  • Water, Sewer, Pipeline, Comm & Power Line Construction1623
Product category
Industrial EPC (Engineering, Procurement, and Construction) Services
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1EPC Project Services
TypeOne Time License
Description

Engineering, Procurement, and Construction services for complex industrial infrastructure projects including pipelines, offshore construction, power plants, and mining facilities. Revenue is project-based, one-time, and typically large contract values for major infrastructure projects.

arendal.com.mx
Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels1 record

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Arendal is a Mexican EPC (Engineering, Procurement, and Construction) contractor delivering complex industrial infrastructure projects across Oil & Gas, Energy, Infrastructure, and Mining sectors. The company executes pipelines (onshore and offshore up to 48 inches diameter), horizontal directional drilling (HDD) crossings up to 2,000 meters, subsea construction to 120m depth, industrial plants, power generation facilities, electrical transmission, civil works, and mining processing plants. Execution is supported by the proprietary SIGA integrated management system and the largest HDD equipment fleet in Latin America.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 5 values shown
  • 120+ projects completed on time and within budget over two decades
+4 more records
Product overview1 text field

Arendal is an EPC (Engineering, Procurement, Construction) company offering a comprehensive portfolio of industrial construction services. The company specializes in pipeline construction (onshore and offshore), horizontal directional drilling (HDD), marine/offshore construction, industrial plant construction, power generation, electrical transmission, civil infrastructure, and mining processing facilities. The core offering is integrated project execution using the company's own resources and equipment fleet, supported by its proprietary SIGA (Sistema Integral de Gestión Arendal) management system. Services span the oil and gas, energy, infrastructure, and mining industries across Latin America.

Product and service5 records
1Pipeline Construction (Ductos)
CategoryPipeline Construction
Description

Construction of onshore and offshore pipelines for hydrocarbon transportation, including liquid and gas pipelines up to 48 inches in diameter across various topographies. Sold to enterprise Oil & Gas clients.

2Horizontal Directional Drilling (HDD)
CategoryTrenchless Pipeline Installation
Description

Directional drilling and crossings for pipeline installation in diameters from 12" to 48" and lengths from 500m to 2,000m across all geological conditions. Sold to enterprise Oil & Gas and infrastructure clients.

3Offshore/Marine Construction (Obra Marina)
CategoryOffshore Construction Services
Description

Subsea pipeline construction, shore approaches, platform work, specialized diving, and inspection/maintenance/repair services for offshore installations up to 120-125m depth. Sold to enterprise Oil & Gas clients.

4Oil & Gas Industrial Plant Construction (Plantas IPC)
CategoryOil & Gas Industrial Plants
Description

Engineering, Procurement, and Construction of Oil & Gas industrial plants including production facilities, compression stations, pumping stations, storage terminals, and processing plants. Sold to enterprise Oil & Gas clients.

5Power Generation Plants
Scale indicator9 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
Strategic tierMinorTypeStrategic or Co-development Partner
Description

FRISA (Fabricaciones y Servicios Industriales) is a Mexican industrial company. Arendal executed electromechanical assembly work package for FRISA, indicating a contractor relationship for industrial projects.

Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight5 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Italian-based global EPC contractor specialized in offshore EPCI, subsea pipelines, and onshore oil & gas infrastructure. Direct competitor in the same marine pipeline and offshore construction space where Arendal has built its core capability.

TypeDirect peer
Description

Leading global provider of subsea and offshore EPC solutions for the oil & gas industry, including subsea pipelines and Land-Sea approaches. Most directly comparable peer to Arendal's marine construction business.

3Empresas ICA
TypeBroad incumbent
Description

Mexico's largest domestic construction and engineering firm with heavy infrastructure, energy, and civil works portfolio. Most direct Mexican-listed peer for Arendal's industrial and civil infrastructure construction work.

TypeDirect peer
Description

Global EPC and operations services provider for the energy sector with strong exposure to Latin America (Mexico, Colombia) oil & gas projects. Comparable scope of services to Arendal in oil & gas EPC.

TypeBroad incumbent
Description

Largest privately-held U.S. EPC firm with deep oil & gas, LNG, mining, and infrastructure portfolio. Competes with Arendal on the upper end of mega-EPC projects in the same end markets.

TypeBroad incumbent
Description

U.S.-based engineering, procurement, and construction services firm with a strong Latin America and energy EPC presence. Competes with Arendal for oil & gas and infrastructure work in Mexico and the Caribbean.

TypeDirect peer
Description

Spanish EPC contractor executing oil & gas processing plants, pipelines, and power generation infrastructure across Latin America. Comparable in project portfolio and EPC execution model to Arendal's industrial plants business.

TypeDirect peer
Description

Global leader in subsea construction, pipeline laying, and subsea tie-ins for offshore oil & gas projects. Competes with Arendal on offshore pipeline and shore approach execution in the Gulf of Mexico and Latin America.

TypeBroad incumbent
Description

Global EPC leader serving oil & gas, mining, power, and industrial clients worldwide. Overlaps with Arendal across industrial plant construction and competes on major pipeline and energy infrastructure projects.

TypeBroad incumbent
Description

Spanish-headquartered infrastructure conglomerate with significant energy and industrial EPC operations across Latin America. Competes with Arendal on power, transmission, and energy infrastructure projects.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat6 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers7 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment4 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile4 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature3 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
Compliance4 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Arendal

Industrial EPC (Engineering, Procurement, and Construction) Servicesarendal.com.mx

Arendal is a Mexican EPC contractor founded in 1995 that delivers complex industrial infrastructure projects including pipelines, HDD drilling, offshore construction, power plants, and mining facilities for enterprise clients across Latin America's oil and gas, energy, infrastructure, and mining sectors.

What Arendal does

Arendal is a Mexican EPC (Engineering, Procurement, and Construction) contractor founded in 1995 in Monterrey, Nuevo León, operating across four primary verticals: oil and gas, energy, infrastructure, and mining. The company delivers complex industrial infrastructure projects including onshore and offshore pipeline construction (up to 48 inches in diameter), horizontal directional drilling (HDD) and land-sea shore approaches, subsea construction to 120-125 meter depths, industrial plant construction, power generation facilities, electrical transmission infrastructure, civil works, and mining processing plants. Its core technology platform is SIGA (Sistema Integral de Gestión Arendal), a proprietary integrated management system incorporating 3D electronic modeling and planning tools, supplemented by what the company describes as Latin America's largest HDD equipment fleet including directional drilling rigs with 1 million pounds of pull force — making it the only regional contractor capable of direct execution for both terrestrial and marine scopes.

Arendal serves large enterprise and government clients including TC Energy, Kinder Morgan, New Fortress Energy, Hokchi Energy, CFE (Mexico's federal electricity commission), and Barrick, executing project-based contracts valued in the millions to tens of millions of dollars per engagement. The company maintains offices in Monterrey (headquarters), Mexico City (business development), Ciudad del Carmen/Campeche (offshore works), Santo Domingo (Caribbean and Central America regional HQ), and Bogotá (South America regional HQ), with operating presence in Costa Rica and Jamaica. Revenue is generated through one-time EPC contracts awarded through direct enterprise sales and competitive bidding, with pricing custom and quote-based for each project given the bespoke nature of industrial infrastructure work.

The firm holds ISO 9001:2015 (Quality), ISO 14001:2015 (Environmental), and ISO 45001:2018 (Occupational Health and Safety) certifications from DNV, along with ISN membership enabling access to major oil and gas procurement platforms. Over 25 years, Arendal has completed 120-125 projects including 50+ directional crossings and the last 7 Land-Sea shore approaches built in Mexico. Headcount is reported in the 5,001-10,000 range. The company is privately held with no disclosed institutional investors, funding rounds, or parent company structure.

Arendal firmographics

Firmographics
Name
Arendal
Legal name
Arendal
Website
https://arendal.com.mx
Company type
Private
Founded year
1995
Operating status
Operating
Headcount range
5,001–10,000 employees
Short description
Arendal is a Mexican EPC contractor founded in 1995 that delivers complex industrial infrastructure projects including pipelines, HDD drilling, offshore construction, power plants, and mining facilities for enterprise clients across Latin America's oil and gas, energy, infrastructure, and mining sectors.
Ownership category
akta.pro rank

Arendal industry classification

Industry
Product category
Industrial EPC (Engineering, Procurement, and Construction) Services
NAICS
Oil and Gas Pipeline and Related Structures Construction (237120), Heavy and Civil Engineering Construction (237), Power and Communication Line and Related Structures Construction (237130)
SIC
Heavy Construction Other Than Bldg Const - Contractors (1600), Water, Sewer, Pipeline, Comm & Power Line Construction (1623)
akta.pro primary industry
Oil & Gas Processing & LNG Facility Construction (IMAFADAB)
akta.pro secondary industries
Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL), Mine Development & Processing EPC (Critical Minerals) (IMAKAFAM), Substation EPC & construction (AIS/GIS, greenfield/brownfield) (EUADAKAC)

Keywords

  • EPC construction services
  • Pipeline construction
  • Offshore construction services
  • Industrial plant construction
  • Horizontal directional drilling

Where Arendal is headquartered

Location

Headquarters

HQ city
Garza García
HQ country
Mexico
HQ region
Latin America

Offices5 records

Markets served

Arendal business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Supply Chain, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

  1. EPC Project Services: Engineering, Procurement, and Construction services for complex industrial infrastructure projects including pipelines, offshore construction, power plants, and mining facilities. Revenue is project-based, one-time, and typically large contract values for major infrastructure projects.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Arendal product offering

Product offering

Core offering

Arendal is a Mexican EPC (Engineering, Procurement, and Construction) contractor delivering complex industrial infrastructure projects across Oil & Gas, Energy, Infrastructure, and Mining sectors. The company executes pipelines (onshore and offshore up to 48 inches diameter), horizontal directional drilling (HDD) crossings up to 2,000 meters, subsea construction to 120m depth, industrial plants, power generation facilities, electrical transmission, civil works, and mining processing plants. Execution is supported by the proprietary SIGA integrated management system and the largest HDD equipment fleet in Latin America.

Product overview

Arendal is an EPC (Engineering, Procurement, Construction) company offering a comprehensive portfolio of industrial construction services. The company specializes in pipeline construction (onshore and offshore), horizontal directional drilling (HDD), marine/offshore construction, industrial plant construction, power generation, electrical transmission, civil infrastructure, and mining processing facilities. The core offering is integrated project execution using the company's own resources and equipment fleet, supported by its proprietary SIGA (Sistema Integral de Gestión Arendal) management system. Services span the oil and gas, energy, infrastructure, and mining industries across Latin America.

Differentiator

Problem solved

Functional benefit

Products and services

  • Pipeline Construction (Ductos) Construction of onshore and offshore pipelines for hydrocarbon transportation, including liquid and gas pipelines up to 48 inches in diameter across various topographies. Sold to enterprise Oil & Gas clients.
  • Horizontal Directional Drilling (HDD) Directional drilling and crossings for pipeline installation in diameters from 12" to 48" and lengths from 500m to 2,000m across all geological conditions. Sold to enterprise Oil & Gas and infrastructure clients.
  • Offshore/Marine Construction (Obra Marina) Subsea pipeline construction, shore approaches, platform work, specialized diving, and inspection/maintenance/repair services for offshore installations up to 120-125m depth. Sold to enterprise Oil & Gas clients.
  • Oil & Gas Industrial Plant Construction (Plantas IPC) Engineering, Procurement, and Construction of Oil & Gas industrial plants including production facilities, compression stations, pumping stations, storage terminals, and processing plants. Sold to enterprise Oil & Gas clients.
  • Power Generation Plants

Quantifiable outcome

  • 120+ projects completed on time and within budget over two decades
  • +4 more outcomes

Companies that use Arendal

Customer profile

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Arendal technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature3 records

Arendal partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • FRISAminorStrategic or Co-development PartnerFRISA (Fabricaciones y Servicios Industriales) is a Mexican industrial company. Arendal executed electromechanical assembly work package for FRISA, indicating a contractor relationship for industrial projects.

Scale indicators9 records

Recent moves5 records

Expansion highlights5 records

Arendal competitors and assessment

Company assessment

Direct peers

  • Saipem: Italian-based global EPC contractor specialized in offshore EPCI, subsea pipelines, and onshore oil & gas infrastructure. Direct competitor in the same marine pipeline and offshore construction space where Arendal has built its core capability.
  • McDermott International: Leading global provider of subsea and offshore EPC solutions for the oil & gas industry, including subsea pipelines and Land-Sea approaches. Most directly comparable peer to Arendal's marine construction business.
  • Petrofac: Global EPC and operations services provider for the energy sector with strong exposure to Latin America (Mexico, Colombia) oil & gas projects. Comparable scope of services to Arendal in oil & gas EPC.
  • Técnicas Reunidas: Spanish EPC contractor executing oil & gas processing plants, pipelines, and power generation infrastructure across Latin America. Comparable in project portfolio and EPC execution model to Arendal's industrial plants business.
  • Subsea 7: Global leader in subsea construction, pipeline laying, and subsea tie-ins for offshore oil & gas projects. Competes with Arendal on offshore pipeline and shore approach execution in the Gulf of Mexico and Latin America.

Broad incumbents

  • Empresas ICA: Mexico's largest domestic construction and engineering firm with heavy infrastructure, energy, and civil works portfolio. Most direct Mexican-listed peer for Arendal's industrial and civil infrastructure construction work.
  • Bechtel: Largest privately-held U.S. EPC firm with deep oil & gas, LNG, mining, and infrastructure portfolio. Competes with Arendal on the upper end of mega-EPC projects in the same end markets.
  • KBR: U.S.-based engineering, procurement, and construction services firm with a strong Latin America and energy EPC presence. Competes with Arendal for oil & gas and infrastructure work in Mexico and the Caribbean.
  • Fluor Corporation: Global EPC leader serving oil & gas, mining, power, and industrial clients worldwide. Overlaps with Arendal across industrial plant construction and competes on major pipeline and energy infrastructure projects.
  • ACS / Cobra (Grupo Cobra): Spanish-headquartered infrastructure conglomerate with significant energy and industrial EPC operations across Latin America. Competes with Arendal on power, transmission, and energy infrastructure projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Arendal social profiles

Digital presence

Arendal compliance and trust

Trust signal

Compliance4 records

Arendal financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Arendal leadership team

Management profile

Number of profiles

Arendal funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Arendal M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arendal

What does Arendal do?

Arendal is a Mexican EPC (Engineering, Procurement, and Construction) contractor delivering complex industrial infrastructure projects across Oil & Gas, Energy, Infrastructure, and Mining sectors. The company executes pipelines (onshore and offshore up to 48 inches diameter), horizontal directional drilling (HDD) crossings up to 2,000 meters, subsea construction to 120m depth, industrial plants, power generation facilities, electrical transmission, civil works, and mining processing plants. Execution is supported by the proprietary SIGA integrated management system and the largest HDD equipment fleet in Latin America.

Is Arendal a public or private company?

Arendal is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was Arendal founded?

Arendal was founded in 1995. It employs 5,001 to 10,000 people.

Where is Arendal based?

Arendal is headquartered in Garza García, Mexico, in the Latin America region.

How does Arendal make money?

One revenue line is on record: EPC Project Services.

Who are Arendal's main competitors?

Direct peers on record are Saipem, McDermott International, Petrofac, Técnicas Reunidas and Subsea 7. Broad incumbents are Empresas ICA, Bechtel, KBR, Fluor Corporation and ACS / Cobra (Grupo Cobra).

Does Arendal have an API?

No public API is recorded for Arendal.

What industry is Arendal in?

Arendal's product category is Industrial EPC (Engineering, Procurement, and Construction) Services. Its primary akta.pro industry code is IMAFADAB, Oil & Gas Processing & LNG Facility Construction, with a secondary code of EUAEAAAL, Balance-of-Plant (BOP) & Civil Works for Power Plants. Its NAICS code is 237120 and its SIC code is 1600.

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Live signals
PR NewswireArendal Announces Final Settlement Of Exchange Offer For Its 10.50% Medium-term Notes Due 2016Arendal, S. de R.L. de C.V. settled its exchange offer on January 30, 2017, replacing its outstanding 10.50% Medium-Term Notes due 2016 with 11.5% Senior Secured Notes due 2021. Approximately 97.72% of the old notes were tendered, resulting in the issuance of US$103,041,717 in new notes to participating holders.PR NewswireArendal Announces Offer to Exchange its 10.50% Medium-Term Notes Due 2016 For 11.5% Senior Secured Notes Due 2021Arendal, a Mexican engineering and construction company, has commenced an exchange offer to swap its 10.50% Medium-Term Notes due 2016 for new 11.5% Senior Secured Notes due 2021, requiring participation from at least 95% of noteholders to proceed. The company disclosed it lacks the means to repay the old notes and is pursuing the exchange to avoid a potential concurso mercantil (Mexican insolvency proceeding), which it believes would cause business disruptions and damage to overall business value. The new notes, maturing June 30, 2021, will be secured by collection rights and cash flows from existing and future development projects, with principal amortized in eight installments beginning September 30, 2019.PR NewswireArendal Announces Agreement In Principle Regarding The Refinancing Of Its 10.50% Medium Term Notes Due 2016Arendal, a Mexican engineering and construction company, has reached a mutual understanding with a majority holder group to refinance its 10.50% Medium Term Notes that matured on May 23, 2016. The new notes will carry a fixed interest rate of 11.5% per annum (or 12.5% with a payment-in-kind option through December 31, 2018) and mature on June 30, 2021. The parties are currently negotiating definitive documentation and intend to implement the refinancing through an exchange offer.PR NewswireArendal anuncia acuerdo en principio con respecto a la refinanciación de sus pagarés de medio término 10.50% con vencimiento en 2016Arendal, S. de R.L. de C.V., a Mexican engineering and construction company, has reached an agreement in principle with a group representing the majority of holders of its 10.50% Medium-Term Notes (which matured on May 23, 2016) to refinance the existing notes. The new notes will carry an 11.5% fixed annual interest rate (or 12.5% if Arendal elects to capitalize interest under a PIK option through December 31, 2018) with a maturity date of June 30, 2021. The parties are currently negotiating definitive documentation and intend to implement the refinancing through an exchange offer.