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Fjord Line to swap up to NOK 150 million bonds due 2018 for new shares
By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – Fjord Line AS began an offer to exchange up to up to NOK 150 million of its outstanding NOK 300 million of bonds due 2018 for new shares in the company.
Each bond with a face value of NOK 500,000 will be exchanged for 90,910 new shares in the company at a subscription price of NOK 550 per new share. Any accrued interest on the exchanged bonds will be paid in cash.
The exchange offer is set to end at 10:30 a.m. ET on Jan. 29.
Results of the offer are expected to be announced Feb. 1.
Norne Securities AS (Attn: Elvind Myrseth, +47 45 16 45 35, eivind.myrseth@norne.no or attn: Stig Sevaldsen +47 48 20 52 58 or stig.sevaldsen@norne.no) has been appointed manager and bookrunner.
The company is based in Egersund, Norway.
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