Brief: Northern Ocean Contemplates Private Placement

Northern Ocean

19/06/2024 15:40

June 19 (Reuters) - Northern Ocean Ltd  NOL.OL :
    * CONTEMPLATED PRIVATE PLACEMENT
    * SETS OFFER SHARE PRICE AT NOK 7.00
    * PRIVATE PLACEMENT AIMED AT RAISING GROSS PROCEEDS OF NOK EQUIVALENT OF ABOUT $60 MILLION
    * SUBJECT TO COMPLETION OF PRIVATE PLACEMENT, GROUP OF BANKS PROVIDE $300 MILLION LOAN
FACILITY
AND STERNA FINANCE LTD. PROVIDES LOAN FACILITY OF $215 MILLION
    * STERNA TO EXECUTE CONVERSION OF PART OF ITS FINANCING FACILITY IN CONNECTION WITH PRIVATE
PLACEMENT AT $0.50 PER SHARE
    * COMPLETION OF PRIVATE PLACEMENT WILL CAUSE HEMEN TO SURPASS 40% THRESHOLD 
    * HEMEN ADVISED CO THAT IN CASE IT SURPASSES 40% THRESHOLD, IT INTENDS TO MAKE MANDATORY
OFFER FOR
PURCHASE OF REMAINING SHARES IN CO

Source text for Eikon:  ID:nObiPt8Jqa 
Further company coverage:  NOL.OL 

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