OCY: Successful placement of perpetual callable hybrid bonds
2026-08-21 08:00:34
21.8.2026 08:00:17 CEST | Ocean Yield | Additional regulated information
required to be disclosed under the laws of a member state
Ocean Yield AS ("Ocean Yield" or the "Company") has successfully completed a new
perpetual callable hybrid bond issue of USD 100 million, carrying a coupon of
SOFR + 350 bps p.a. with quarterly interest payments. The bond issue attracted
strong interest and was oversubscribed.
The proceeds from the bond issue will be applied towards refinancing of the
outstanding bonds with the ticker OCY10 (ISIN NO0013177188) and for general
corporate purposes.
In conjunction with the new bond issue, Ocean Yield has repurchased USD 14.8
million of OCY10. Ocean Yield now holds USD 95.2 million of OCY10 where the
total nominal outstanding amount is USD 110 million. As previously announced,
the Company intends to call OCY10 at 101.00% of par following the contemplated
closing of the sale of Ocean Yield to A.P. Moller Holding, as per the bond
terms.
Certain primary insiders and close associates have subscribed and were allocated
bonds in the bond issue.
Arctic Securities, Danske Bank, and DNB Carnegie acted as Joint Lead Managers in
connection with the placement of the new bond issue. BAHR acted as legal advisor
to the Company. An application will be made for the bonds to be listed on Oslo
Børs.
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.
CONTACTS
* Andreas Røde, Chief Executive Officer, +47 98 22 85 62
* Eirik Eide, Chief Financial Officer, +47 950 08 921
* Karl Fredrik Schjøtt-Pedersen, Senior Vice President, +47 951 32 335
ABOUT OCEAN YIELD
Ocean Yield AS is a ship owning company with investments in vessels on long-term
charters. The company has a significant contract backlog that offers visibility
with respect to future earnings.
hat offers visibility\
with respect to future earnings.\