Exmar upsizes bond offer

Exmar has increased the pot of a bond offering to NOK 700m ($114m) after the fundraiser was “significantly oversubscribed”.
Exmar is aiming to fund LNG and offshore investments.

Exmar is aiming to fund LNG and offshore investments.

The Belgian gasship owner said today that it has closed the offering, which originally sought to sell NOK 600m worth of bonds.

It is aimed at raising cash for new investments in LNG infrastructure and offshore assets, among other purposes.

The Antwerp-based company is involved in two LNG projects: the world’s first floating liquefaction and storage unit (FLSU) planned for Colombia and a floating regasification barge.

Nicolas Saverys-led Exmar announced the bond offering last week, saying that the LNG and LPG carrier owner was taking advantage of an opportunity to diversify its finance sources.

The senior unsecured bonds, which are due in July 2017, were swapped into US-dollar denominations at a fixed interest rate of 5.72%.

The deal should be finalised on 7 July.

DNB Markets and Pareto Securities acted as joint lead managers on the deal.

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Exmar's Antwerp headquarters
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