American Shipping Company ASA : Successful close of USD220m bond issue
February 09 2017 - 2:01AM
Fornebu, 9 February 2017
Reference is made to the press release dated 7
February, 2017 by American Shipping Company ASA ("AMSC") in
relation to a contemplated bond issue through AMSC's fully
owned subsidiary American Tanker Inc. ("ATI"). ATI has
successfully completed the placement of a USD 220 million
senior unsecured bond. The bond issue was significantly
oversubscribed and received strong demand from Nordic as well as
international investors. Settlement is expected to be 21
February, 2017 with final maturity date expected to be 21
February, 2022. The new bond issue has a coupon of 9.25%.
An application will be made for the bonds to be
listed on the Oslo Stock Exchange.
The net proceeds will be used to
refinance the existing bond maturing February 2018.
The bonds have not been and will not be registered
under the Securities Act or any state securities laws, and may not
be offered or sold in the United States absent registration or
unless pursuant to an applicable exemption from the registration
requirements of the Securities Act and any other applicable
securities laws. This press release does not constitute an offer to
sell or the solicitation of an offer to buy the bonds, nor shall it
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
ATI had retained Arctic Securities, Clarksons
Platou Securities, Pareto Securities and SEB as joint lead managers
for the transaction.
Sparebank 1 Markets had been retained as
Co-Manager.
For further information, please contact:
Pål Magnussen (CEO, AMSC)
Tel +47 24 13 00 04
Morten Bakke (CFO, AMSC)
Tel: +47 24 13 00 87
This information is subject of the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: American Shipping Company ASA via
Globenewswire
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