TORM lines up fixed-income investor calls for five-year bonds

By Wendy Van Sickle

Columbus, Ohio, Jan. 8 – TORM plc mandated Danske Bank, DNB Markets, Nordea and SEB as joint bookrunners to arrange a series of fixed-income investor calls that were to start on Monday, according to a filing with the Securities and Exchange Commission.

A five-year dollar-denominated senior bond issue may follow subject to market conditions.

Net proceeds from the potential bond issue will be used to partly finance five of eight LR2 product tanker vessels, including full repayment of a bridge facility potentially partly drawn in connection with the acquisition, which was announced in November, and for general corporate purposes.

TORM is a Danish product tanker and dry bulk company. TORM plc has headquarters in London.

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