
Bonds and financing
Bonds
SENIOR UNSECURED SUSTAINABILITY-LINKED BOND ISSUE 2024/2029
Ticker: TBA
ISIN: NO0013355248
Face value: USD 200 million
Coupon: 7.375% p.a.
Issued: 9 October 2024
Final maturity: 9 October 2029
Prospectus and bond terms can be found here.
SUSTAINABILITY-LINKED FINANCING FRAMEWORK
Other financing facilities
Facility | Type | Pre-delivery | Outstanding 30/06/25 | Total capacity | Interest rate | # | Repayment profile | Maturity |
---|---|---|---|---|---|---|---|---|
HCOB | RCF | USD 0m | USD 100m /75m | 295bps + SOFR | 11 | Commitment will be reduced starting in Mar 2024 – Dec 2027 | Dec. 2027 | |
CA-CIB | Term Loan | Yes | USD 81.6m | USD ~101m | 175 – 275bps + SOFR | 2 | Quarterly 5x 5.7m + 4x 3.7m + 4x 1.4m3 | Q2 2031 |
HCOB-Ecofeeder | Term Loan | USD 33.7m | USD 50m | 280bps + SOFR | 4 | 14 x quarterly 0.7m + 25m balloon | Aug. 2028 | |
BoComm | Sale & Lease back | USD 31.4m | USD 75m | 260bps + SOFR | 91 | 5x monthly 1.2m, 24x 0.3m + 24.4m balloon1 | Sep. 2027 | |
Deutsche Bank | Green Term Loan | Yes | USD 54.5m | USD ~54.5m | 230bps + SOFR | 2 | 23 x semi-annual installments of 3.33% + 23.34% balloon | 2037 |
First Citizen Bank | Term Loan | USD 27.0m | USD 30m | 195bps + SOFR | 2 | 12 x quarterly 1.5m + 7.5m balloon | Oct. 2028 | |
Development Bank of Japan / Shinsei | Term Loan | USD 15.3m | USD 16m | 175bps + SOFR | 1 | 7x quarterly 0.75m, 15x 0.28m + 5.9m balloon | Mar. 2031 | |
KfW-IPEX | Term Loan | USD 52.0m | USD 52.0m3 | 190bps + SOFR | 2 | 6 x semi-annual 5.4m, 7x 1.8m + 7.1m balloon | May 2032 | |
Nordic HY Bond | Senior unsecured sustainability-linked | USD 200m | USD 200m | 737.5bps | n/a | n/a | Oct. 2029 | |
Deutsche Bank | Term Loan2 + accordion | USD 0.0m | USD 47.5m2 + USD 250m | 200bps + SOFR | 2 | Quarterly 11x 2.4m, 8x 1.7m + 14.5m balloon | Jun. 2030 | |
Société Generale4 | Green Term Loan | Yes | USD 0.0m | USD 29.3m | 210bps - SOFR | 1 | Quarterly 28x USD 0.5m + USD 15.6m balloon | Aug. 2033 |
Data as of Q2 2025
1)Voluntary Prepayment of ~USD 2m in August 2025 anticipated – release of one collateralized vessel, 2) Utilization in July 2025 – all conditions precedent fulfilled 3) Subsequent instalments to be agreed by borrower and lender, 4) Under documentation, term sheet signed