Kongsberg Gruppen NOK 2bn unsecured bonds (FRN 2021 and 3.20% 2026)
General corporate purposes and refinancing part of the bridge loan for the purchase of 49.9% of Patria
Key terms
- Borrower or issuer
- Kongsberg Gruppen
- Date
- 26 May 2016
- Type
- Bond
- Amount
- NOK 2bn (US$238m)
- Pricing
- FRN: 3m NIBOR + 1.25%; fixed: 3.20%
- Maturity
- 2021 (FRN) and 2026 (fixed)
Recorded terms
- Structure
- Two senior unsecured bonds in the Norwegian market: NOK 1bn five-year floating rate note and NOK 1bn ten-year fixed rate bond; NOK 240m of the KOG06 bond bought back alongside
- Lenders and arrangers
- Danske Bank Markets and DNB Markets, joint lead managers
- Country
- Norway
Parties
- Kongsberg Gruppen borrower or issuer
- bookrunner/arranger: Danske Bank, DNB
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| 22 Jun 2016 | Hanwha Techwin (now Hanwha Aerospace) KRW 150bn unsecured bonds (2016) | Bond | KRW 150bn |
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| 11 Aug 2016 | General Dynamics US$1,000m senior notes (2 tranches) | Bond | US$1bn |
More from Kongsberg Gruppen
| Date | Financing | Type | Amount |
|---|---|---|---|
| 23 May 2023 | Kongsberg Gruppen NOK 1bn 4.85% senior unsecured bond due 2030 | Bond | NOK 1bn |
| 22 Mar 2022 | Kongsberg NOK 2.5bn revolving credit facility (2022) | Bank facility | NOK 2.5bn |
| 22 Feb 2021 | Kongsberg Gruppen NOK 500m FRN due 2026 | Bond | NOK 500m |
| 21 Nov 2018 | Kongsberg Gruppen NOK 1bn senior unsecured FRNs (2021 and 2024) | Bond | NOK 1bn |
| 15 Mar 2017 | Kongsberg NOK 2.3bn revolving credit facility (2017) | Bank facility | NOK 2.3bn |
| 25 Nov 2016 | Kongsberg Gruppen NOK 1bn unsecured bonds (FRN 2020 and 2.90% 2023) | Bond | NOK 1bn |
M&A and investment involving Kongsberg Gruppen
| Date | Deal | Type | Value |
|---|---|---|---|
| Dec 2018 | Kongsberg NOK 5.0bn rights issue (Rolls-Royce Commercial Marine) | Equity raise | NOK 5bn |
| 24 May 2016 | Kongsberg acquisition of 49.9% of Patria | Stake sale | €283.5m |
Sources
- Kongsberg Gruppen stock exchange release: successful placement of new unsecured bonds newsweb.oslobors.no · 26 May 2016
About this record
Record DEF-2016-0017, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
