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MeldingsID: 428487
Dato/tid 30.05.2017 12:05
Utsteder Songa Bulk ASA
UtstederID SBULK
Instrument SBULK
Marked OAX
Kategori ANNEN INFORMASJONSPLIKTIG REGULATORISK INFORMASJON
Informasjonspliktig   Informasjonspliktige opplysninger   Lagringspliktig melding
Vedlegg
Tittel SUCCESSFUL PLACEMENT OF NEW SENIOR SECURED BOND ISSUE
Tekst
Reference is made to the press release dated 29 May 2017 by Songa 
Bulk ASA ("Songa"). 
Songa has successfully completed the issuance of a USD 75 million 
senior secured bond, with a total borrowing limit of USD 150 
million. The bond issue was oversubscribed and received strong 
demand from high quality investors. Settlement is expected to be 13 
June 2017, with final maturity 13 June 2022. The bond issue has a 
floating interest rate of 3M LIBOR + 4.50% p.a. An application will 
be made for the bonds to be listed on Oslo Børs. Net proceeds from 
the bond issue will be used to finance acquisition of additional dry 
bulk vessels.

"We are very pleased with the positive response received from bond 
investors. We are happy that we have been able to raise USD 75 
million at a very competitive interest margin of 4.50% p.a., as part 
of the previously communicated strategy to take on moderate 
leverage. Prior to completion of the bond issue, we had received 
multiple offers from reputable banks for bank financing at 
attractive terms, but the Board of Directors are confident that the 
bond issue will provide Songa with increased flexibility at an 
attractive interest cost" says Arne Blystad, Chairman of the Board 
of Directors of Songa.

ABG Sundal Collier ASA acted as sole manager in connection with the 
new bond issue.

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