BW LPG Places $300 Million Senior Unsecured Convertible Bonds Offering

BW LPG (BWLPG.OL) placed a senior unsecured convertible bond offering worth $300 million due Sept. 9, 2031, according to a Wednesday release.

The 2.25% fixed-coupon bonds will be issued at par in $200,000 denominations and will be payable semi-annually. Settlement of the offer is expected on Sept. 9, and the conversion price of the bonds was initially set at $30.487.

The liquefied petroleum gas vessel owner and operator will use the net proceeds to partly finance its newbuild program with Hyundai Heavy Industries for eight Panamax very large gas carriers, or VLGSs, and for general corporate purposes.

Dutch Telco KPN Issues EUR500 Million Hybrid Bond

Koninklijke KPN (KPN.AS) said Tuesday it issued 500 million euros of 4.625% subordinated hybrid bond, with a term of 5.25 years.The bond is first callable on Sept. 9, 2031, with a first reset date scheduled for Dec. 9, 2031.The Dutch telecommunications company earmarked proceeds from the issuance for general corporate expenditures and debt refinancing. It issued the bond amid an ongoing offer to fully redeem 500 million euros of perpetual hybrid capital securities with a first reset date of Dec. 21, 2027.

$KPN.AS

Aton Resources Agrees to $30 Million Loan From Its Majority Shareholder

Aton Resources (AAN.V) after trade Tuesday said it has entered into an agreement with shareholder OU Moonrider to borrow up to $30 million.The facility can be drawn in one or more advances and matures on Sept. 1, 2028, with an interest rate of 12% per year. Any unpaid amounts after maturity will carry 20% annual interest. The loan is unsecured and cannot be converted into equity securities of Aton. No bonus shares or warrants will be issued as part of the facility, the company added.Moonrider is Aton's controlling shareholder, owning about 66.4% of the company, according to the statement."The Aton board concluded that the facility is on reasonable commercial terms that are not less advantageous to the company than if the facility were obtained from a person dealing at arm's length with the company," the company said.The company added that it plans to use the funds for further exploration and development at its Hamama project, as well as general and administrative expenses.

$AAN.V

BW LPG Places $300 Million Senior Unsecured Convertible Bonds Offering

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