By Angela McDaniels
Tacoma, Wash., March 7 - I.M. Skaugen SE issued NOK 350 million of floating-rate notes due March 15, 2013, according to a company news release.
The coupon is Nibor plus 600 basis points.
First Securities AS was the lead arranger.
In connection with the new issue, the company bought back NOK 200 million of its 10½% notes due Sept. 16, 2011 and NOK 8.5 million of its floating-rate notes due July 15, 2011. The proceeds of the new notes will be used to repay the remaining floaters at maturity.
The issuer will apply to list the new notes on the Oslo Stock Exchange.
I.M. Skaugen is an Oslo-based marine transportation company serving the petrochemical gas, oil, liquefied petroleum gas and liquefied natural gas sectors.
| Issuer: | I.M. Skaugen SE
|
| Issue: | Notes
|
| Amount: | NOK 350 million
|
| Maturity: | March 15, 2013
|
| Coupon: | Nibor plus 600 bps
|
| Lead arranger: | First Securities AS
|
| Announcement date: | March 7
|
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