By Jennifer Chiou
New York, Oct. 12 - Oceanteam Shipping ASA announced that it has completed the placement of $92.5 million of senior bonds at par to yield Libor plus 1,125 bps.
Pareto Securities and Sparebank1 Markets acted as joint lead managers.
The bonds will amortize by $35 million in April 2015.
According to a press release, the final maturity date is expected to be Oct. 24, 2017.
Settlement is slated for Oct. 24.
Proceeds will be used to refinance Oceanteam's existing OPU01 RET bond loan and for general corporate purposes.
Oceanteam Shipping is a Paradis, Norway-based offshore shipping company.
| Issuer: | Oceanteam Shipping ASA
|
| Issue: | Senior bonds
|
| Amount: | $92.5 million
|
| Maturity: | Oct. 24, 2017
|
| Joint leads: | Pareto Securities and Sparebank1 Markets
|
| Coupon: | Libor plus 1,125 bps
|
| Price: | Par
|
| Yield: | Libor plus 1,125 bps
|
| Announcement date: | Oct. 12
|
| Settlement date: | Oct. 24
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
