Chembulk Raises USD 200 Mn from Bond Offering

USA-based shipping firm Chembulk Tankers has priced USD 200 million in senior secured bonds which will carry a coupon of 8.00% and be due in February 2023.

The net proceeds from the bond offering will be used for refinancing of existing bank debt and general corporate purposes.

In addition, this bond offering contains a tap issuance feature, where Chembulk can expand the issue amount at a future date to a maximum of USD 250 million, subject to standard issuance tests.

“This successful offering is a notable milestone as we constantly work to maintain Chembulk’s reputation for safe and efficient product deliveries to our customers and will facilitate the renewal and growth of our fleet,” Dave Ellis, Chembulk CEO, said.

DNB Markets acted as bookrunner in connection with the placement of the new bond issue, and KKR Capital Markets acted as financial advisor.

The company informed that an application will be made for the bonds to be listed on Oslo Børs.

Share this article

Follow World Maritime News

Posted on January 22, 2018 with tags .

In Depth>

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 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 31

LNG2019

LNG2019 features the largest number and highest level of LNG industry leaders.

read more >

Singapore Maritime Week (SMW) 2019

very year, SMW gathers the international maritime community for a week of flagship conferences…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >