I.M. Skaugen Mulls New Bond Issue (Norway)

Norwegian marine transportation company I.M. Skaugen SE said it is considering a new senior unsecured bond issue with final maturity in February 2015.

The contemplated bond issue will have a minimum issue amount of NOK 300 million.

Net proceeds from the contemplated bond issue will be used to refinance existing bonds with maturity in 2012 and for general corporate purposes, the company said.

The issue is a floating rate bond with a coupon margin of 8.25% above NIBOR, I.M. Skaugen added.

1 Norwegian krone = 0.173952 U.S. dollars

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LNG World News Staff, February 9, 2012