Ocean Yield raises $125m for new investments

Ocean Yield raises $125m for new investments

Norway’s Ocean Yield has raised $125m via a new perpetual hybrid callable bond, funds it says it will use for new investments.

The bond, which carries a coupon of 3 months LIBOR + 6.50 % p.a. with quarterly interest payments, was well oversubscribed.

Ocean Yield has been busy this year buying shipping assets for long-term charters, including deals with CMB, Scorpio Bulkers and Okeanis Eco Tankers. Last week, the company acquired a handysize bulker newbuilding, which will then go back onto a ten-year bareboat charter to Interlink Maritime.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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