Ocean yield places new hybrid capital

Aug 30 2019

Ocean Yield has completed a new perpetual hybrid callable bond issue of $125 mill, carrying a coupon of three months LIBOR + 6.5% pa with quarterly interest payments.

This bond issue attracted strong interest and was well oversubscribed, the company said.

The net proceeds from the bond will be used for general corporate purposes, including new investments.

Arctic Securities, DNB Markets, Nordea Bank, Pareto Securities and Skandinaviska Enskilda Banken 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.