DFDS Mulls Refinancing to Reduce Cost, Extend Debt Maturity

Danish shipping and logistics company DFDS is exploring a new bond issue to refinance existing bonds and extend debt maturity as part of “the continuous pursuit of improving the financing cost.”

As informed, the company intends to issue new DKK and/or NOK denominated senior unsecured bonds with an expected maturity of five years in the near future.

DFDS has mandated Danske Bank A/S, Nordea Bank AB and Nykredit Bank A/S to arrange fixed income investor meetings starting on September 15, 2017. However, there is no certainty that the issue of the new bonds will be initiated or consummated, the company said.

Furthermore, a tender offer is also being launched for the holders of DFDS’ existing NOK 700.000,000 bonds due March 21, 2018.

Subject to the applicable minimum denomination in respect of the 2013 bonds, the purchase price payable per bond having a nominal amount of NOK 1.000,000 will be 101.500%.

DFSS explained that the tender offer is being made as part of the company’s commitment to actively manage its financing, including management of upcoming redemptions, lengthening and diversification of the debt maturity profile, and, in addition, to allow current holders to roll their current position into the new bonds.

The offer expires at 12:00 CET on September 21, 2017, unless extended, reopened, withdrawn or terminated at the absolute and sole discretion of DFDS.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 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 29
30 1 2 3 4 5 6

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >