Ocean Yield Wraps Up New USD 90.8 Mn Bond Issue

Image Courtesy: Ocean Yield

Norwegian ship-owner Ocean Yield ASA has completed a new unsecured bond issue of NOK 750 million (USD 90.8 million) with maturity date in September 2021.

The company said that the bond issue carries a coupon of 3 months NIBOR + 4.50% p.a. with quarterly interest payments.

The net proceeds from the bond issue will be used to refinance existing debt from Aker ASA, finance future growth and for general corporate purposes.

Concurrently, Ocean Yield has repurchased NOK 245.5 million of OCY 02 with maturity in 2019 and NOK 92.5 million of OCY 03 with maturity in 2020, to extend the average maturity of its outstanding bond loans.

Danske Bank, DNB Markets, Nordea Markets, Pareto Securities and Skandinaviska Enskilda Banken acted as joint lead arrangers in connection with the placement of the new bond issue.

An application will be made for the bonds to be listed on Oslo Stock Exchange, Ocean Yield said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 1 2 3 4

Shipping 360

This course is ideal for those who have recently joined the maritime sector and those who need to have a better understanding…

read more >

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Shippax Ferry Conference 2018

The two-day onboard ferry conference was first organized in 2003 and grows ever more popular with some 400 delegates from over 40 ferry…

read more >

8th Dredging & Land Reclamation World Summit 2018

The 8th Dredging and Land Reclamation Summit 2018 will gather the decision makers from Authorities and Operators responsible for ports…

read more >