By Mary Katherine Stinson
Lexington, Ky., Dec. 22 – Grontvedt AS issued NOK 500 million of senior secured three-year floating-rate bonds with a coupon of Nibor plus 800 basis points, according to a notice.
Arctic Securities AS and Pareto Securities AS are the joint bookrunners.
The company will apply for a listing of the new bonds on Oslo Bors.
Net proceeds from the bond issue, together with a planned NOK 200 million equity raise, will be applied to repayment of the company’s outstanding NOK 600 million senior secured bonds due Sept. 23, 2024 (ISIN: NO0011094658) at the prevailing call price of 101.893 and for general corporate purposes.
Based in Uthaug, Norway, Grontvedt is a pelagic company specializing in herring products.
| Issuer: | Grontvedt AS
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| Amount: | NOK 500 million
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| Issue: | Secured bonds
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| Maturity: | 2026
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| Bookrunners: | Arctic Securities AS and Pareto Securities AS
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| Coupon: | Nibor plus 800 bps
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| Settlement date: | Dec. 22
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