Oslo-listed Ocean Yield will see the bonds mature in April 2020 and carry a coupon 4% over three months NIBOR.

The Kjell Inge Rokke-backed owner is the second shipowner after Stolt-Nielsen to move in the market over the past couple of weeks as it reopens.

Danske Bank Markets, DNB Markets, Nordea Markets and Pareto Securities acted as joint lead arrangers in the issue, which adds to the owner’s NOK 1bn bond debt.