Deleveraging

With the assistance of ABG Sundal Collier Norge, Fairstar Heavy Transport this week successfully launched an underwritten equity issue of up to NOK 75 million, which will be used to retire the company’s secured bond issue.

The transaction structure combines a share capital increase in the form of a rights issue of up to 10 million new shares, with pre-emption rights for shareholders (i.e. approx. 0.3 new shares per ordinary share) at a subscription price of NOK 5.0 (“Tranche A”) and a share issue of up to 4,166,667 new shares directed towards the Bondholders of the Fairstar Heavy Transport Secured Bond Issue 2008/2009 (the “Bond Loan”) at a subscription price of NOK 6.0 (“Tranche B”) (collectively the “Offering”).

A syndicate of the Company’s current shareholders has underwritten 5.3

This is only an excerpt of Deleveraging

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.

Existing Users Login
Username
Password

Related Archive Files

• No Related Post