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HomeMaritime NewsRegionsAsiaGolden Ocean launches bond issue worth up to $200m

Golden Ocean launches bond issue worth up to $200m

Golden Ocean launches bond issue worth up to $200m
John Fredriksen’s Golden Ocean is looking to raise up to $200m from a convertible bond issue as it eyes newbuilding resale opportunities.

Golden Ocean launched a $175m institutional convertible bond issue with a five-year tenor, with option to issue a further $25m.

The bonds are expected to have a coupon range of 2.75% and 3.375% and will mature on 30 January 2019.

Golden Ocean said proceeds from the issue would be used for acquiring vessels “due for delivery in a short time frame”, to part fund existing newbuildings and general corporate purposes.

TAGS: Europe Dry Bulk Finance & Insurance
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