Summary by Moomoo AI
TORM plc, a leading carrier of refined oil products, announced on January 11, 2024, the successful pricing of $200 million senior unsecured bonds with an 8.25% fixed coupon, due January 25, 2029. The bonds, which will be listed on the Oslo Stock Exchange, attracted significant global investor interest and were substantially oversubscribed. The proceeds from the bond issue are earmarked to partially finance the acquisition of five out of eight LR2 product tanker vessels and for general corporate purposes, including the full repayment of a bridge facility potentially partly drawn for the acquisition. Additionally, TORM has increased its share capital through the issuance of 624,077 Class A common shares following the delivery of the second of eight LR2 product tanker vessels, and by 660,714 Class A common shares after the...Show More