Ocean Yield AS (“Ocean Yield” or the “Company”) has today successfully completed a USD 35 million tap issue of its outstanding perpetual callable hybrid bond issue with ISIN NO0013177188 (the "Hybrid Bonds"). Total outstanding amount under the Hybrid Bonds following the tap issue is USD 110 million. The tap issue was priced at 104.5% of par, implying a margin of approximately 4.0% above the relevant reference rate. The tap issue was initiated by reverse inquiries. Net proceeds from the tap issue shall be applied towards general corporate purposes.
The hybrid bonds issued in the tap issue will trade under a separate ISIN (NO0013501130) until a tap issue prospectus has been approved and the bonds can be merged with the existing Hybrid Bonds.
Arctic Securities and Nordea acted as Joint Bookrunners for the hybrid bond tap issue. BAHR acted as legal advisor to the Company.