Belgium's Euronav is preparing to tap into a bond issue to boost its funding.
The Euronext-listed tanker giant said its subsidiary Euronav Luxembourg has arranged a fixed-income investor call for 13 June, with the help of Arctic Securities, DNB Markets and Nordea.
A tap issue of its $150m senior unsecured bond issue may follow, subject to market conditions, it added.
The company told TradeWinds the amount to be raised will depend on investor feedback.
A spokesperson said: "There is no upper limit but we are responding to investor interest and a strong bond price which some feel is sub-scale at $150m given the company is larger now than when we did the original issue in May 2017."
TradeWinds understands the target will be up to $50m extra.
The debt is due on 31 May 2022. The issue carries interest of 7.5%.