By Devika Patel
Knoxville, Tenn., April 29 - Aker BioMarine announced it has secured a three-year NOK 400 million subordinated convertible loan from Aker ASA.
The loan carries an 8.25% coupon. Rather than paying interest on a running basis, Aker BioMarine will pay both principal and interest at maturity. The per-share conversion price is NOK 29.78.
The loan will provide financial clout for Aker BioMarine's targeting of international growth markets and the company's further development.
Based in Oslo, Aker BioMarine is an agriculture company that develops nutraceuticals (dietary supplements and functional foods) and provides nutraceutical applications of lipids, product development, intellectual property rights, research and development and product commercialization.
| Issuer: | Aker BioMarine
|
| Issue: | Convertible loan
|
| Amount: | NOK 400 million
|
| Maturity: | Three years
|
| Coupon: | 8.25%, payable at maturity
|
| Price: | Par
|
| Yield: | 8.25%
|
| Conversion price: | NOK 29.78
|
| Warrants: | No
|
| Investor: | Aker ASA
|
| Settlement date: | April 29
|
| Stock symbol: | Oslo: AKBM
|
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