Color Group AS: Improved liquidity and banks mandated for potential perpetual hybrid tap issue

23 Apr 2021 08:00 CEST

Company Name

Color Group AS 18/22 FRN, Color Group AS 18/23 FRN, Color Group AS 19/24 FRN FLOOR, Color Gr AS 20/PERP FRN C SUB

ISIN

NO0010819394, NO0010837214, NO0010864531, NO0010893340

Market

Oslo Børs

Symbol

Color Group AS (the “Company”) has in April 2021 received a firm offer in the
amount of NOK 150 million from the state guaranteed loan scheme through DNB Bank
and GIEK. This will be a three-year loan with installments commencing after one
year.
The Company has also through March and April 2021, realized gains for most of
the remaining future hedged bunker fuel contracts with a total positive cash
effect of approximately NOK 65 million.
As a further step to improve solidity and liquidity, Arctic Securities and DNB
Markets have been mandated to arrange a series of fixed income investor calls
commencing on 26 April 2021. Subject to inter alia market conditions, a (up
until) NOK 300 million tap issue in its perpetual hybrid bond with ISIN NO
0010893340 may follow. Net proceeds from the potential hybrid tap issue will be
used for general corporate purposes.
Companies controlled by O.N. Sunde AS have pre-subscribed for, and will be
allocated, minimum NOK 100 million in the contemplated hybrid tap issue.
For further information, please contact:
Bjørn Paulsen (CFO Color Group AS & ON Sunde AS), Tel: +47 23 11 86 22 / Mob:
+47 481 30 668
Christian Arndt (Finance Director Color Group AS), Tel. +47 23 11 86 14 / Mob:
+47 915 93 048


Source

Color Group AS

Provider

Oslo Børs Newspoint