GOGL - Golden Ocean launches $100 million convertible bond
(Thomson Reuters ONE) - Golden Ocean Group Limited ("Golden Ocean" or the "Company") ispleased to announce that the Company intends to issue $100 million inprincipal amount of convertible bonds with a five-year tenor (the"Bonds"). In addition, Golden Ocean has granted ABG Sundal CollierNorge ASA an option to purchase up to an additional $25 millionprincipal amount of Bonds.The senior unsecured bonds will be convertible into common shares ofthe Company. The bonds are expected to have an annual coupon in therange of 4.375% - 4.875% payable semi-annually in arrear, and have aconversion premium of 27.5% - 32.5% over the volume weighted averageprice of the Company's shares on the Oslo Stock Exchange (convertedinto $) at the time of pricing.The convertible bonds will be issued and redeemed at 100% of theirprincipal amount and will, unless previously redeemed, converted orpurchased and cancelled, mature in December 2014.The bonds are expected to be settled on or around 22 December 2009.Golden Ocean may decide to list the bonds on an exchange at a laterstage.The proceeds from the convertible bond offering will be used forfinancing of the existing ship building program, toimprove the Company's ability to react to market opportunities andfor general corporate purposes.ABG Sundal Collier Norge ASA is Bookrunner for the Offering, whileABG Sundal Collier Norge ASA and First Securities AS are Joint LeadManagers.8 December 2009Hamilton, BermudaContact Persons:Herman Billung: CEO, Golden Ocean Management AS+47 22 01 73 40Geir Karlsen: CFO, Golden Ocean Management AS+47 22 01 73 53This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 08.12.2009 - 08:04 Uhr
Sprache: Deutsch
News-ID 9360
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