New York-listed gas giant Navigator Holdings has issued $100m aggregate principal amount of new senior unsecured bonds in the Nordic bond market. The new bonds will mature in February 2021 and have a fixed coupon of 7.75% per annum. The transaction is expected to occur on February 10, 2017.
The company said net proceeds will be used towards repaying all of the outstanding principal amount of the company’s $125m senior unsecured bond issue NAVIG01. Navigator said it will exercise the call option in NAVIG01 to redeem NAVIG01 in full at 102.00% of par value plus accrued interest.