Positive Liquidity For Color Line

By | 2021 Newsletter week 17 | No Comments
  • Color Group has in April 2021 received a firm offer in the amount of NOK 150 million from the state guaranteed loan scheme through DNB Bank and GIEK.
  • 3-year loan with installments commencing after one year.
  • Color Group has also through March and April 2021, realized gains for most of
    the remaining future hedged bunker fuel contracts with a total positive cash
    effect of approximately NOK 65 million.
  • Color Group AS has successfully completed a NOK 300 million tap of its perpetual hybrid bond with ISIN NO 0010893340 at a price of 101% of nominal amount. The tap issue was substantially oversubscribed. Net proceeds from the new bond issue will be used for general corporate purposes.

Together with the previously announced NOK 150 million loan facility from the
state guaranteed loan scheme through DNB Bank and GIEK and approximately NOK 65 million from realization of bunker hedges this sums up to a positive liquidity effect of NOK 515m for Color Group AS.