As an asset light business, NORDEN diversifies its funding across several financial instruments, including bonds. This provides NORDEN with the working capital needed as part of its agile business model, enabling the company to continue its growth and capitalise on attractive business opportunities.
The bonds are listed on Nasdaq Copenhagen A/S’ regulated market with the first day of trading of the bonds on 15 October 2021.
The listing prospectus can be found in the file section below.
|USD 100 million
|3-year senior unsecured
|*LIBOR 3M + 4.75%
|28 June 2021
|28 June 2024
* Changes to SOFR +5.01161% at 1 July 2023
In March 2022, NORDEN bought back bonds with a nominal value of USD 25.5 million by accepting all offers up to and including a price of 101.00% of par value plus accrued unpaid interest. Following the buy-back, NORDEN holds a total nominal amount of USD 25.5 million of DNORD bonds. Reference is made to stock exchange announcement no. 65.