STOCKHOLM, Aug. 26, 2019 /PRNewswire/ -- Ocean Yield ASA ("the Company") has successfully completed a new perpetual hybrid callable bond ("Hybrid Bond") issue of USD 125 million, carrying a coupon of 3 months LIBOR + 6.50 % p.a. with quarterly interest payments. The Hybrid Bond issue attracted strong interest and was well oversubscribed.
The net proceeds from the Hybrid Bond will be used for general corporate purposes including new investments. The Hybrid Bond will be accounted for as book equity and is subordinated to the Company's outstanding senior unsecured bonds.
Arctic Securities AS, DNB Markets, Nordea Bank, Pareto Securities AS and Skandinaviska Enskilda Banken AB (publ) acted as joint lead managers in connection with the placement of the new bond issue.
An application will be made for the bonds to be listed on Oslo Stock Exchange.
Company contact:
Eirik Eide (CFO), Tel +47-24-13-01-91
Investor Relations contact:
Marius Magelie (SVP Finance & Investor Relations), Tel +47-24-13-01-82
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/ocean-yield/r/successful-placement-of-new-hybrid-capital,c2888735
SOURCE Ocean Yield
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