Kongsberg Gruppen NOK 1bn unsecured bonds (FRN 2020 and 2.90% 2023)
General corporate purposes and partly refinancing existing debt
Key terms
- Borrower or issuer
- Kongsberg Gruppen
- Date
- 25 Nov 2016
- Type
- Bond
- Amount
- NOK 1bn (US$119m)
- Pricing
- FRN: 3m NIBOR + 0.90%; fixed: 2.90%
- Maturity
- 2020-03-05 (FRN) and 2023-12-05 (fixed)
Recorded terms
- Structure
- Two senior unsecured bonds listed on Oslo Børs as KOG10 (NOK 550m FRN, ISIN NO0010779770) and KOG11 (NOK 450m seven-year fixed, ISIN NO0010779788); interest from 5 December 2016
- Lenders and arrangers
- Nordea and SEB, joint lead managers
- Country
- Norway
Parties
- Kongsberg Gruppen borrower or issuer
- bookrunner/arranger: Nordea, SEB
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 30 Nov 2016 | Northrop Grumman US$750m 3.200% senior notes due 2027 | Bond | US$750m |
| 31 Oct 2016 | RTX (Raytheon Technologies) US$4,000m senior notes (5 tranches) | Bond | US$4bn |
| 28 Oct 2016 | Hanwha Techwin (now Hanwha Aerospace) KRW 100bn unsecured bonds (2016) | Bond | KRW 100bn |
| 7 Oct 2016 | Hyundai Rotem KRW 100bn unsecured bonds (2016) | Bond | KRW 100bn |
| 4 Oct 2016 | Babcock International £300m 1.875% bonds due 2026 | Bond | £300m |
More from Kongsberg Gruppen
| Date | Financing | Type | Amount |
|---|---|---|---|
| 23 May 2023 | Kongsberg Gruppen NOK 1bn 4.85% senior unsecured bond due 2030 | Bond | NOK 1bn |
| 22 Mar 2022 | Kongsberg NOK 2.5bn revolving credit facility (2022) | Bank facility | NOK 2.5bn |
| 22 Feb 2021 | Kongsberg Gruppen NOK 500m FRN due 2026 | Bond | NOK 500m |
| 21 Nov 2018 | Kongsberg Gruppen NOK 1bn senior unsecured FRNs (2021 and 2024) | Bond | NOK 1bn |
| 15 Mar 2017 | Kongsberg NOK 2.3bn revolving credit facility (2017) | Bank facility | NOK 2.3bn |
| 26 May 2016 | Kongsberg Gruppen NOK 2bn unsecured bonds (FRN 2021 and 3.20% 2026) | Bond | NOK 2bn |
M&A and investment involving Kongsberg Gruppen
| Date | Deal | Type | Value |
|---|---|---|---|
| Dec 2018 | Kongsberg NOK 5.0bn rights issue (Rolls-Royce Commercial Marine) | Equity raise | NOK 5bn |
| 24 May 2016 | Kongsberg acquisition of 49.9% of Patria | Stake sale | €283.5m |
Sources
- Kongsberg Gruppen stock exchange release: placement of unsecured bonds newsweb.oslobors.no · 25 Nov 2016
- Oslo Børs: KOG11 new bond issue to be listed (terms) newsweb.oslobors.no · 23 Jan 2017
About this record
Record DEF-2016-0019, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
