There was strong interest among Norwegian and international investors and the bond issue was significantly over subscribed. As a consequence, the subscription period was ended last Thursday, prior to the expiration of the planned subscription period.
The loan is a second-priority bond loan with a 5-year tenor and a fixed coupon of 10.50% p.a. The purpose of the loan is to secure further construction financing for Nexus' first FPSO, which is under construction at Samsung Heavy Industries. The company has also secured a US$320 million senior debt financing from an internationally recognized bank. Together with planned funding in connection with the planned IPO as previously announced this will bring Nexus current construction program to being fully financed.
Swedbank / First Securities acted as Sole Manager for the bond issue.
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