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Fjord Line buys back NOK 102.5 million 8¾% bonds due 2018 in offer
By Susanna Moon
Chicago, July 5 – Fjord Line AS will buy back NOK 102.5 million of its 8¾% senior bonds due Feb. 5, 2018 in an offer that ended at 11:30 a.m. ET on July 4.
After settlement on July 7, the outstanding amount of the bonds will be NOK 76 million, according to a notice.
The company said on June 27 that it was offering to buy back up to NOK 178.5 million of bonds at a price of 103.5 plus accrued interest.
Norne Securities AS is the manager.
Fjord Line currently owns NOK 121.5 million of the 8¾% bonds. The company said it will cancel these bonds together with all bonds repurchased in the offer.
The company previously said it is not planning to make any more offers for the bonds before maturity.
Fjord Line operates a ferry service and cargo transport between Norway and Denmark. The company is based in Egersund, Norway.
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