It’s Not Only Offshore – I.M. Skaugen Issues Bonds

This week I.M. Skaugen SE (“IMSK”) announced the successful placement of its NOK 350 million two-year senior unsecured bonds. The amount in NOK equates to approximately $63.1 million, falling between the minimum borrowing amount of $60 million and the maximum limit of $70 million. The issue is a floating rate bond with a coupon equal to NIBOR + 6.00%. Proceeds will be used to refinance existing debt and for general corporate purposes.

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