Color Group AS – Successful Placement of Perpetual Hybrid Bond Issue

By | 2020 Newsletter week 37 | No Comments

Color Group AS has successfully completed a new subordinated perpetual hybrid bond issue of NOK 500 million with first call date in December 2024. Net proceeds from the new bond issue will be used for general corporate purposes.

Arctic Securities, Danske Bank, DNB Markets, Nordea and SEB acted as Joint Lead

Managers in connection with the placement of the new bond issue. An application will be made for the bonds to be listed on Oslo Børs.

In total, Color Group has approximately NOK 3 billion outstanding in the bond market.

Source: Oslo Stock Exchange 9 September 2020


By | 2019 Newsletter week 25 | No Comments

Color Line Expects a Lower Profit Than Last Year

Color Group AS is expecting to have a profit in 2019 that is down comparable to the figure reported in 2018, because of:

  • increased oil price
  • weaker Norwegian currency
  • delayed delivery of COLOR HYBRID from Ulstein Yard
  • weaker freight marked than expected.
  • BOHUS which was out of service due to an extraordinary operational disruption
  • Settlement in the legal dispute between Nye Kystlink AS and Color Group AS / Color Line AS.

Total cash effect is estimated to approximately NOK -200 mill. (of which approximately NOK -150 effect on results) In 2019.

BOHUS has been sold to a subsidiary company of Northbay Transportes Maritimos LTD, Madeira, Portugal with delivery latest 30 August 2019. The transaction has been guaranteed by the subsidiary company Tnitsea Shipping LTD, Madeira, Portugal. The ship will continue its operations in the Mediterranean, most likely for Red Star Ferries.


By | 2018 Newsletter week 10 | No Comments

A Good Year For Color Line In 2017

Color Line AS, a company belonging to Color Group AS can look back on a successful 2017.

  • Operating revenue: NOK 4,968 million (4,896)
  • Operating profit before depreciation and charter leases: NOK 1,180 million (1,149)
  • Operating profit EBIT: NOK 630 million (616)
  • Net profit: NOK 372 million (426)
  • Number of passengers: 3,805,023 (3,850,947)
  • Number of freight units: 180,480 (175,680)

Color Group is expecting to record a profit in 2018 that is comparable to the figures reported in 2017.

As a reminder, the company entered last year into a contract with Ulstein for the construction of the world’s largest plug-in hybrid ro-pax for the Sandefjord-Strömstad route (spring 2019)

One more detail: interesting to know is also that 65% of the company’s estimated bunker costs for 2018 and approx. 30% for 2019 are secured by hedging.