Kongsberg Gruppen NOK 1bn senior unsecured FRNs (2021 and 2024)
Part financing of the acquisition of Rolls-Royce Commercial Marine and general corporate purposes
Key terms
- Borrower or issuer
- Kongsberg Gruppen
- Date
- 21 Nov 2018
- Type
- Bond
- Amount
- NOK 1bn (US$123m)
- Pricing
- 3m NIBOR + 0.88% (3-year); 3m NIBOR + 1.20% (5.5-year)
- Maturity
- 2021 and 2024
Recorded terms
- Structure
- Two senior unsecured floating rate tranches of NOK 500m each: 3.0-year and 5.5-year, listed on Oslo Børs
- Lenders and arrangers
- Nordea and Arctic Securities, joint lead managers
- Country
- Norway
Parties
- Kongsberg Gruppen borrower or issuer
- bookrunner/arranger: Nordea, Arctic Securities
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More from Kongsberg Gruppen
| Date | Financing | Type | Amount |
|---|---|---|---|
| 23 May 2023 | Kongsberg Gruppen NOK 1bn 4.85% senior unsecured bond due 2030 | Bond | NOK 1bn |
| 22 Mar 2022 | Kongsberg NOK 2.5bn revolving credit facility (2022) | Bank facility | NOK 2.5bn |
| 22 Feb 2021 | Kongsberg Gruppen NOK 500m FRN due 2026 | Bond | NOK 500m |
| 15 Mar 2017 | Kongsberg NOK 2.3bn revolving credit facility (2017) | Bank facility | NOK 2.3bn |
| 25 Nov 2016 | Kongsberg Gruppen NOK 1bn unsecured bonds (FRN 2020 and 2.90% 2023) | Bond | NOK 1bn |
| 26 May 2016 | Kongsberg Gruppen NOK 2bn unsecured bonds (FRN 2021 and 3.20% 2026) | Bond | NOK 2bn |
M&A and investment involving Kongsberg Gruppen
| Date | Deal | Type | Value |
|---|---|---|---|
| Dec 2018 | Kongsberg NOK 5.0bn rights issue (Rolls-Royce Commercial Marine) | Equity raise | NOK 5bn |
| 24 May 2016 | Kongsberg acquisition of 49.9% of Patria | Stake sale | €283.5m |
Sources
- Kongsberg Gruppen stock exchange release: successful placement of bonds newsweb.oslobors.no · 21 Nov 2018
About this record
Record DEF-2018-0032, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
Senior notes are unsecured promises to pay, priced off government bonds; the prospectus sets the covenants, the change-of-control put and the redemption terms.
