ABG Sundal Collier acted as sole manager and bookrunner in connection with the USD 75m senior secured bond issue for Songa Bulk ASA

Deal announcement

Songa Bulk ASA successfully completed the issuance of a USD 75m senior secured bond, with a total borrowing limit of USD 150m. The bond issue was oversubscribed and received strong demand from high quality investors. Songa Bulk communicated strategy is to take on moderate leverage.
 
 

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.