Norwegian shipowner Ocean Yield has added $70m to its cash pile through the sale of a new bond in Oslo.

The Oslo-listed sale-and-leaseback player, owned by US private equity giant KKR, said the unsecured issue is worth NOK 750m ($70.5m).

The notes carry a coupon of the Norwegian interbank rate (Nibor) plus 3.95%, much lower than the existing series.

“The bond issue attracted strong interest and was well over-subscribed,” Ocean Yield said.