American Shipping Company ASA - American Tanker, Inc.: Successful close of USD200m bond issue
Lysaker, 17 June 2020 Reference is made to the press release dated 11 June 2020 by American Tanker, Inc ("ATI"), an indirectly wholly owned subsidiary of American Shipping Company ASA (OSE:AMSC, OTCQX:ASCJF) in relation to its engagement of financial advisors to explore options to refinance its outstanding USD 220 million bond. ATI has today successfully completed the placement of a USD 200 million senior unsecured bond among Nordic and International investors. The new bond issue has a coupon of 7.75% and a tenor of 5 years. The net proceeds will be used to refinance the outstanding