Havila Shipping ASA Secures NOK 525 Million Through Bond Issue
Havila Shipping ASA is excited to share the successful completion of a significant financial milestone with the issuance of a senior secured bond totaling NOK 525 million. This two-year bond, initiated by Havila Finans AS—a fully owned subsidiary of Havila Holding AS, which holds a 50.96% stake in Havila Shipping—offers a compelling investment opportunity.
Details of the Bond Offering
The newly minted bond carries a coupon pegged to three-month NIBOR, plus a margin of 5.00% per annum. This means that bondholders will receive quarterly interest payments, contributing to a steady income stream. Such attractive terms reinforce Havila Shipping’s commitment to maintaining sound financial practices and benefitting its investors.
Purpose of the Funds
With the net proceeds generated from this bond issue, Havila Shipping plans to channel the funds towards its subsidiaries. Primarily, these funds will facilitate the repayment of NOK 500 million in existing debt, which is scheduled to be settled in cash by the end of December 2024. This strategic move aims to strengthen the financial foundation of Havila Shipping as it navigates the evolving market conditions.
Management and Legal Guidance
In orchestrating this bond placement, Havila Shipping has enlisted Arctic Securities as the Sole Manager. Their expertise ensures a smooth and efficient process, reflecting Havila Shipping’s proactive approach to financial management. Additionally, Advokatfirmaet Wikborg Rein provides legal counsel to Havila Shipping, while Advokatfirmaet Selmer advises the Sole Manager and Nordic Trustee, underscoring the collaborative efforts behind this bond issuance.
Contact Information for Inquiries
For further information or inquiries about this bond placement, interested parties may reach out directly to the following members of Havila Shipping's executive team:
- Njål Sævik, Chief Executive Officer - +47 909 35 722
- Arne Johan Dale, Chief Financial Officer - +47 909 87 706
Looking Ahead
This bond issuance is not just a financial maneuver; it reflects Havila Shipping’s dedication to ensuring long-term stability and growth. By efficiently managing its obligations and investing in its subsidiaries, the company is strategically positioning itself for future opportunities in the shipping industry.
Frequently Asked Questions
1. What was the amount of the bond issued by Havila Shipping ASA?
The bond issued by Havila Shipping ASA was NOK 525 million.
2. Who is managing the bond placement?
The bond placement is managed by Arctic Securities as the Sole Manager.
3. What is the purpose of the proceeds from the bond?
The net proceeds will be used to repay NOK 500 million of existing debt.
4. When is the debt repayment due?
The debt repayment of NOK 500 million is scheduled for December 30, 2024.
5. Who can be contacted for more information about the bond?
For inquiries, contact CEO Njål Sævik at +47 909 35 722 or CFO Arne Johan Dale at +47 909 87 706.
