Reference is made to the press release dated 14 August 2017 by Songa
Bulk ASA ("Songa"). Songa has today successfully completed a tap
issue of USD 45m in the Songa Bulk ASA Senior Secured Callable Bond
Issue 2017/2022 with ISIN NO0010795891. The total nominal amount
outstanding in the bond following the tap issue will be USD 120m.
Net proceeds from the bond issue will be used to finance acquisition
of additional dry bulk vessels.
"We are once again very pleased with the response received from the
bond market. The additional USD 45m from the tap issue will let us
continue to grow the fleet in line with our strategy. We still find
the risk reward ratio attractive in the dry bulk space and we expect
to add additional vessels to our fleet shortly", 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.