Fred Olsen holding company Bonheur is plotting a new bond sale in Norway.

The five-year debt will be arranged by DNB Markets, but no value was revealed.

The move comes as the shipowner announced a net loss for the first quarter of NOK 148m ($17.21m), from a profit of NOK 211m in 2016.

Revenue declined to NOK 2.35bn against NOK 3.28bn