Songa Bulk ASA is contemplating a tap issue of up to USD 45 million
of the senior secured bond "Songa Bulk ASA 17/22 FRN USD C" (ISIN
NO0010795891 and maturity 13 June 2022). The current outstanding
amount is USD 75m and the borrowing limit is USD 150m.
If concluded, the net proceeds from the contemplated tap issue will
be used to finance acquisition of additional dry bulk vessels.
ABG Sundal Collier has been retained as manager in connection with
the placement of the contemplated tap issue.
For further information, please contact:
Herman Billung, CEO
About Songa Bulk Songa Bulk ASA (the "Company"), established by the
Blystad Group and Herman Billung. The Company has low gearing, no
legacy issues and a cost efficient operational platform. The Company
seeks to actively manage the cyclicality of the drybulk market by
investing at historically low levels, focus on returning capital to
shareholders through asset sales and/or dividends as the market
recovers. Please see our webpage: www.songabulk.no