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BRIEF-Songa with successful placement of new senior secured bond issue
May 30, 2017 / 10:11 AM / 4 months ago

BRIEF-Songa with successful placement of new senior secured bond issue

May 30 (Reuters) - SONGA BULK AS:

* SUCCESSFUL PLACEMENT OF NEW SENIOR SECURED BOND ISSUE

* SONGA HAS SUCCESSFULLY COMPLETED ISSUANCE OF A USD 75 MILLION SENIOR SECURED BOND, WITH A TOTAL BORROWING LIMIT OF USD 150 MILLION

* 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

* BOND ISSUE HAS A FLOATING INTEREST RATE OF 3M LIBOR + 4.50% P.A. Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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