BlueNord ASA Seeks to Refinance Existing Bonds with New Senior Unsecured Issue

BlueNord ASA, a leading company in its sector, has announced its intention to engage in a series of fixed income investor meetings, commencing on May 4, 2026. These meetings, arranged by Joint Bookrunners DNB Carnegie, Fearnley Securities AS, and Pareto Securities AS, aim to facilitate the potential issuance of a new senior unsecured bond. This contemplated bond issue, with an initial amount of USD 350 million, is subject to various market conditions and is intended to refinance the company's existing USD 300 million senior unsecured bonds, known as BNOR16.

The net proceeds from this new bond issue will be utilized for multiple purposes, including the refinancing of BNOR16, partial repayment of the company's Revolving Bank Loan (RBL), and general corporate purposes. This strategic move by BlueNord ASA reflects its commitment to optimizing its financial structure and ensuring the company's continued growth and stability. The decision to potentially issue new bonds and refinance existing debt is a common practice among companies looking to take advantage of favorable market conditions or to align their debt obligations with their current financial situation.

As part of the contemplated bond issue, BlueNord ASA will offer bondholders of BNOR16 the opportunity to roll over their bonds at the prevailing make-whole call price. Following the completion of the new bond issue, the company plans to call the remaining net outstanding amount of BNOR16 at the same prevailing make-whole call price. This approach ensures a smooth transition and provides existing bondholders with the option to maintain their investment in the company under the new bond terms.

The announcement by BlueNord ASA is classified as inside information according to the EU Market Abuse Regulation and is subject to the disclosure requirements outlined in the Norwegian Securities Trading Act. The company's decision to explore this refinancing option underscores its proactive stance on financial management and its efforts to optimize its capital structure. By potentially issuing a new senior unsecured bond, BlueNord ASA aims to diversify its funding sources, reduce its financing costs, and enhance its overall financial flexibility.

The role of the Joint Bookrunners and Co-Managers in this process is crucial, as they will facilitate interactions between BlueNord ASA and potential investors. Their expertise in managing bond issues and their understanding of the market will be invaluable in ensuring the success of this contemplated bond issue. The participation of ABN AMRO Bank N.V., Clarksons Securities AS, SB1 Markets AS, and Stifel Nicolaus Europe Limited as Co-Managers further underscores the complexity and the professional approach being taken by BlueNord ASA in this financial endeavor.

In conclusion, the announcement by BlueNord ASA regarding its plans for a new senior unsecured bond issue to refinance its existing bonds marks an important step in the company's financial strategy. As the company navigates this process, it will be critical for investors and stakeholders to closely follow developments, given the potential implications for BlueNord ASA's financial health and operational capabilities. With its proactive approach to financial management, BlueNord ASA is poised to maintain its position in the market and continue on its path of growth and development.