Exmar Closes Bond Issue

Exmar Closes Bond Issue

Exmar of Belgium has successfully closed a NOK 700 million (equivalent to USD 114 million) senior unsecured bond issue due in July 2017.

All interest and principal payments have been swapped into USD at an all in fixed interest rate of 5.72%. The offering was significantly oversubscribed and EXMAR upsized the original expected amount of NOK 600 million to NOK 700 million.

The transaction is subject to customary closing conditions and settlement is expected to occur on 7 July 2014, the company said in a statement.

The proceeds from the offering will be used to finance new investments in LNG infrastructure assets and offshore assets as well as for general corporate purposes, Exmar added.

Press Release, June 27, 2014

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