BW in bond buy-back

Singapore-based BW Group is offering a premium to some bondholders who agree to early redemption.
Andreas Sohmen-Pao

Andreas Sohmen-Pao

Holders of the 6.625% notes due 2017 that sell prior to 27 January will receive $1,060 per $1,000 held, the company said today.

This includes an early tender premium of $30 per $1,000 plus any accrued and unpaid interest.

Holders that sell after the early tender date but at or prior to the expiration date will receive $1,030 per $1,000, plus accrued and unpaid interest.

BW has engaged HSBC as dealer manager for the tender offer.

The company raised close to $300m from listing its gas carrier wing in Oslo in late November.

BW LPG has a fleet of about 40 VLGCs, including newbuildings and options for two more at Hyundai Heavy Industries (HHI).  

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