The company, which carried out an IPO in Oslo in June, said the notes mature in June 2017.

They carry interest of 7.21% per year, which is the Norwegian inter-bank rate plus 5.5%.

The issue was managed by Fearnley Securities.

Havyard’s IPO valued the company at NOK 754.7m.

The price was cut on the day of listing “as a result of orders and indications received during the book-building period,” after its stock market debut was extended by another four days.