Kongsberg Gruppen NOK 500m FRN due 2026
Refinancing of existing debt
Key terms
- Borrower or issuer
- Kongsberg Gruppen
- Date
- 22 Feb 2021
- Type
- Bond
- Amount
- NOK 500m (US$58m)
- Pricing
- 3m NIBOR + 0.86%
- Maturity
- 2026
Recorded terms
- Structure
- Five-year senior bond (ISIN NO0010940422) with a maximum issue amount of NOK 1bn, applied for listing on Oslo Børs; NOK 505m of KOG08 (June 2021) bought back alongside
- Lenders and arrangers
- Nordea, sole lead manager
- Country
- Norway
Parties
- Kongsberg Gruppen borrower or issuer
- bookrunner/arranger: Nordea
Similar financings
| Date | Financing | Type | Amount |
|---|---|---|---|
| 29 Mar 2021 | BWX Technologies US$400m 4.125% senior notes due 2029 | Bond | US$400m |
| 14 Jan 2021 | TransDigm US$1.2bn 4.625% senior subordinated notes due 2029 | Bond | US$1.2bn |
| 12 Apr 2021 | Korea Aerospace Industries (KAI) KRW 500bn unsecured bonds (2021) | Bond | KRW 500bn |
| 22 Dec 2020 | Saab SEK 200m FRN due 2027 (MTN 124) | Bond | SEK 200m |
| 28 Apr 2021 | Hanwha Aerospace KRW 400bn unsecured bonds (2021) | Bond | KRW 400bn |
More from Kongsberg Gruppen
| Date | Financing | Type | Amount |
|---|---|---|---|
| 23 May 2023 | Kongsberg Gruppen NOK 1bn 4.85% senior unsecured bond due 2030 | Bond | NOK 1bn |
| 22 Mar 2022 | Kongsberg NOK 2.5bn revolving credit facility (2022) | Bank facility | NOK 2.5bn |
| 21 Nov 2018 | Kongsberg Gruppen NOK 1bn senior unsecured FRNs (2021 and 2024) | Bond | NOK 1bn |
| 15 Mar 2017 | Kongsberg NOK 2.3bn revolving credit facility (2017) | Bank facility | NOK 2.3bn |
| 25 Nov 2016 | Kongsberg Gruppen NOK 1bn unsecured bonds (FRN 2020 and 2.90% 2023) | Bond | NOK 1bn |
| 26 May 2016 | Kongsberg Gruppen NOK 2bn unsecured bonds (FRN 2021 and 3.20% 2026) | Bond | NOK 2bn |
M&A and investment involving Kongsberg Gruppen
| Date | Deal | Type | Value |
|---|---|---|---|
| Dec 2018 | Kongsberg NOK 5.0bn rights issue (Rolls-Royce Commercial Marine) | Equity raise | NOK 5bn |
| 24 May 2016 | Kongsberg acquisition of 49.9% of Patria | Stake sale | €283.5m |
Sources
- Kongsberg Gruppen stock exchange release: placement of new bond issue newsweb.oslobors.no · 22 Feb 2021
About this record
Record DEF-2021-0033, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ 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.
