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.