Successful placement of senior unsecured bonds
Ocean Yield AS (“Ocean Yield”) has successfully completed a new bond issue of NOK 750 million, carrying a coupon of 3 months NIBOR + 3.75% p.a. with quarterly interest payments. The bond issue attracted strong interest and was well oversubscribed. The net proceeds from the bond issue will be applied towards refinancing of outstanding debt and general corporate purposes. In conjunction with the new bond issue, Ocean Yield has repurchased USD 12 million of outstanding bonds with ticker OCY06 (ISIN: NO0010861594) and NOK 121 million of outstanding bonds with ticker OCY07 (ISIN: NO0010869720)