OSLO, Norway, May 6, 2026 /PRNewswire/ -- Reference is made to the stock exchange notice published by BlueNord ASA (OSE: BNOR) ("BlueNord" or the "Company") on 4 May 2026. BlueNord is pleased to announce that it has successfully placed a new 5-year senior unsecured bond with an initial issue amount of USD 400 million and with maturity in 2031. The new bond will carry a fixed interest rate of 7.875% per annum. The bond issue attracted strong interest from international and Nordic investors, was upsized to USD 400 million from USD 350 million and was multiple times covered at final pricing.
An application will be made to list the bonds on the Euronext Oslo Børs. The net proceeds from the bond issue will be used to refinance the Company's existing BNOR16 USD 300 million senior unsecured bonds (ISIN NO 0013261735), partial repayment of the RBL and for general corporate purposes.
Settlement is expected on or about 19 May 2026, subject to customary conditions precedent, and the Company will prior to such date issue a call notice for full redemption of the outstanding BNOR16 bonds at the prevailing make-whole call price.
The terms of the new bond is aligned with the improved financial situation of the Company.
"The successful placement of BNOR18 demonstrates continued confidence in BlueNord's business, cash flow profile and long-term strategy. Strong demand throughout the marketing process allowed us to upsize the bond and secure attractive pricing. The new bond terms also provides greater long-term flexibility to support our business as we continue to deleverage and maintain a conservative balance sheet. This refinancing is fully aligned with our strategy of proactively managing the capital structure to support long-term value creation for all stakeholders," said Jacqueline Lindmark Boye, Chief Financial Officer of BlueNord.
DNB Carnegie, a part of DNB Bank ASA, Fearnley Securities AS and Pareto Securities AS acted as Joint Bookrunners in connection with the bond issue. In addition, ABN AMRO Bank N.V., Clarksons Securities AS, SB1 Markets AS and Stifel Nicolaus Europe Limited acted as Co-Managers. Advokatfirmaet BAHR AS acted as legal advisor of the Company. Advokatfirmaet Thommessen AS acted as legal advisor to the Joint Bookrunners in the transaction.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Contact:
Cathrine Torgersen, Chief Corporate Affairs Officer
Phone: +47 915 28 501
Email: cathrine.torgersen@bluenord.com
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