Torm has won an 8.25% fixed coupon rate on $200m in five-year unsecured bonds that will partly finance its acquisition of five LR2 tankers.

The Danish product tanker giant announced on Thursday that the bonds due on 25 January 2029 were issued after a tender found “strong global investor interest” and was “significantly oversubscribed”. Torm will apply to have the notes listed on the Oslo Stock Exchange.