Aurora LPG contemplates bond issue

Aurora LPG contemplates bond issue

Oslo-listed Aurora LPG says it is considering the issue of up to NOK 200m ($23m) in new senior unsecured bonds in the Norwegian bond market.

The shipowner today said the proceeds from the issue would be used for general corporate purposes. SpareBank 1 Markets has been appointed as sole manager for the bond issue.

In its third-quarter 2015 earnings report, released on Tuesday, Aurora said its ABN AMRO/KEXIM credit facility is fully committed and is in the final stages of documentation. Once the facility has been signed, the company says it will be fully financed for the delivery payments on five of its six newbuildings.

In the report, Aurora added that its Credit Suisse credit facility has been concluded.

Aurora has six 84,000-cbm VLGCs under construction at South Korea’s Hyundai Heavy Industries for delivery in 2016.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

Related Posts