Oskar Wehr's Norwegian $102m private placement project oversubscribed

Oskar Wehr has successfully completed the $102m private placement of a new outfit owning eight handysize and two supramax bulkers into the Norwegian limited partnership market.

Andreas W Bang, head of sales for Clarksons Platou Project Finance which handled the deal, said interest in the project was very good and it was oversubscribed.

The new owning vehicle, Selmer Bulk AS, has equity of $37m, with Oskar Wehr retaining 25% and Oslo-based Lorentzen Skibs taking 10%.