Successful completion of tap issues

Jan 28, 2020

Odfjell SE has successfully completed tap issues in two of its outstanding senior unsecured bond issues. The bond ODF09 ISIN NO 0010796238 maturing in June 2022 will increase by NOK 100 million, and the bond with ISIN NO 0010832181 maturing in September 2023 will increase by NOK 200 million, in total NOK 300 million.

The bonds relating to ODF09 will be issued under a temporary ISIN NO 0010874308, until a listing prospectus for the additional bonds has been approved. Net proceeds from the tap issues will be used to refinance existing lease financing and for general corporate purposes.

Arctic Securities AS, DNB Markets and Pareto Securities AS acted as Joint Lead Managers in connection with the transaction.

Odfjell SE is a company specializing in worldwide seaborne transportation and storage of chemicals and other speciality bulk liquids. The Odfjell fleet comprises around 80 ships in total, mainly registered in Norway (NIS) and primarily manned by Norwegian and Filipino mariners. The fleet transports more than 600 different kinds of liquids, including organic and inorganic bulk liquid chemicals, acids, animal fats, edible oils, portable alcohols and clean petroleum products. Odfjell has a wide range of customers, from the oil majors and largest chemical manufacturers to smaller logistical companies and traders. The tank terminal division consists of six tank terminals, located in Belgium, USA, South Korea and China. Odfjell Terminals is also part of a network in South America, consisting of another 13 tank terminals partly owned by related parties. Odfjell has offices in 14 locations around the world, and is headquartered in Bergen, Norway. The company employs around 2,300 people and posted annual gross revenue of USD 851 million in 2018. Read more on Odfjell.com.

Odfjell press release