TORM announced the commencement of a secondary public offering of 5,000,000 of the Company’s Class A common shares by OCM Njord Holdings S.à r.l., a company indirectly owned by funds managed by Oaktree Capital Management, L.P. and its affiliates.
The Selling Shareholder expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 (seven hundred fifty thousand) Class A common shares offered in this offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
The Selling Shareholder beneficially owns approximately 65% of the Company’s Class A common shares prior to this offering. The Company is not selling any Class A common shares and will not receive any proceeds from the sale of the Company’s Class A common shares by the Selling Shareholder.
Citigroup Global Markets Inc. (“Citigroup”), Evercore Group L.L.C. (“Evercore”) and Jefferies LLC (“Jefferies”) are acting as joint book-running managers and Global Coordinators for the offering.