Euronav successfully places new senior unsecured bond issue


Euronav Luxembourg SA, a wholly owned subsidiary of the Euronav Group, has successfully completed a new senior unsecured bond issue of USD 150 million with a coupon of 7.50% and maturity in May 2022.

The bonds will be guaranteed by Euronav NV and an application will be made for the bonds to be listed on the Oslo Stock Exchange.

The net proceeds from the bond issue will be used for general corporate purposes. The offering was substantially oversubscribed.

DNB Markets, Nordea and Arctic Securities AS acted as joint lead managers in connection with the placement of the bond issue.

The management of Euronav continue to look to diversify its funding sources as much as possible. Traditional sources of capital available to tanker shipping are coming under increasing regulatory and competitive pressure within the banking sector. This bond issue successfully placed with a range of international investors will bolster the Company’s already strong balance sheet but also expand its funding options and differentiate the Company further from its peer group.

Hugo De Stoop, Euronav CFO said: “We are delighted to have successfully added to our funding options with this important transaction. This initial footprint into debt capital markets represents a significant development for Euronav”.



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