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First Time Cooperation Yields Success for NOCC

This week for the first time Nordea and RS Platou joined forces and together successfully concluded a NOK 200 million senior unsecured bond issue for Norwegian Car Carriers ASA (“NOCC”). The transaction was well received with the books closed when the targeted amount was reached. Sold at par, the bond has a tenor of five years and carries a coupon of 10.5%. Proceeds will be used to re-purchase NOK 4 million in the bond loan EID01 and NOK 42 million face value in the bond loan EID02. After repayment, the outstanding amounts under the issues would be respectively NOK 25.5 million and NOK 28.5 million. The excess proceeds, NOK 154 million, will be used for general corporate purposes. Further details are provided in our Guts of the Deal below.

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