Norden to gather USD 100 million in bond issuance

Dry bulk and tanker operator Norden plans to sell bonds for USD 100 million. Net proceeds will be used for "attractive business opportunities mainly within the dry cargo market."

Norden CEO Jan Rindbo is seeking additional funding finance growth and its dry bulk business. | Photo: Lars Krabbe/ERH

Norden is seeking to obtain USD 100 million in new funding to finance "attractive business opportunities mainly within the dry cargo market", among other things, the dry bulk and tanker company writes in a stock exchange announcement.

"A USD denominated 3-year senior unsecured non-callable bond issue with a Maximum Issue Amount of USD 150 million and an expected Initial Issue Amount of up to USD 100 million may follow, subject to, inter alia, market conditions," the announcement reads.

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