ABG Sundal Collier acted as sole manager and bookrunner in connection with the USD 45m tap issue for Songa Bulk ASA

Deal announcement

Songa Bulk ASA has successfully completed a tap issue of USD 45m in the Songa Bulk ASA Senior Secured Callable Bond Issue 2017/2022 with ISIN NO0010795891. The total nominal amount outstanding in the bond following the tap issue will be USD 120m. Net proceeds from the bond issue will be used to finance acquisition of additional dry bulk vessels.
 

About Songa Bulk ASA

Songa Bulk is an investment vehicle established to invest in dry bulk assets at historically low levels. The company seeks to actively manage the cyclicality of the dry bulk market by investing at low levels and subsequently focus on returning capital to shareholders through asset sales and/or dividends as the market recovers.