By Susanna Moon
Chicago, Nov. 22 – Klaveness Ship Holding AS has issued NOK 300 million senior bonds due May 2021 with a coupon of Nibor plus 525 basis points.
The issue has a borrowing limit of NOK 500 million.
Proceeds will be used to refinance the company’s floating-rate notes issue 2013/2018 and its floating-rate notes issue 2014/2020 as well as for general corporate purposes.
Danske Bank Markets, DNB Markets and Pareto Securities are the joint lead managers.
Klaveness plans to redeem its KSH02 PRO bonds due March 2020 at a price of 101.54% of par plus accrued interest by adding an early mandatory redemption in the bond agreement, according to a company announcement.
The issuer also will exercise the call option for its KSH01 PRO bonds at 103% of par plus accrued interest.
Klaveness Ship Holding, through its subsidiaries, owns, operates and charters ships in Oslo.
| Issuer: | Klaveness Ship Holding AS
|
| Issue: | Floating-rate senior bonds
|
| Amount: | NOK 300 million
|
| Maturity: | May 2021
|
| Coupon: | Nibor plus 525 bps
|
| Announcement date: | Nov. 22
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