DFDS successfully issues corporate bond
SHIPPING: Until today DFDS has covered its debt financing needs via banks, but has now decided to issue a corporate bond partly to replace existing bank debt. The aim is to reduce dependency on the banks and to diversify the loan portfolio.
“We are pleased with the significant interest in DFDS and the positive reception we received for our bond issue,” says Torben Carlsen, CFO.
“In the last two years DFDS has reduced its debt considerably to around DKK 3.4 billion and has a strong balance sheet”.
The company has sold the NOK 500 mil-lion unsecured bond to a wide grouping of institutional investors in Denmark, Norway and Sweden.
The four-year bond has been issued with a floating rate in NOK which DFDS has swapped into a fixed, four-year Danish interest rate of approximately 4.3%.
The bond will be listed on the Oslo Stock Exchange.
Nordea and SEB have ar-ranged and carried out the bond issue for DFDS.
Source: DFDS Update / maritimedanmark.dk