BlueNord ASA Achieves Successful Placement of $400 Million Bond Issue and Redeems Existing Bonds

BlueNord ASA Successfully Issues $400 Million Senior Unsecured Bond

On May 6, 2026, BlueNord ASA, listed on the Oslo Stock Exchange under the ticker BNOR, announced its successful placement of a new senior unsecured bond worth $400 million. This bond, with a fixed interest rate of 7.875% per annum, has a maturity date set for 2031. The strong interest from both international and Nordic investors enabled the firm to increase the initial offering from $350 million to $400 million, and it was oversubscribed multiple times.

The proceeds from the bond issuance will be strategically utilized for refinancing the existing $300 million BNOR16 bonds, partly repaying the Reserve Based Lending (RBL), and serving general corporate purposes. The Company plans to settle the issuance around May 19, 2026, pending customary conditions. Prior to this date, a call notice will be issued to fully redeem the outstanding BNOR16 bonds at the prevailing market price.

This bond placement is viewed as a reflection of BlueNord's improved financial standing. Jacqueline Lindmark Boye, the Chief Financial Officer, remarked, "The successful placement of BNOR18 demonstrates continuous confidence in BlueNord's operations and long-term strategy. The strong demand allowed us to enlargen the bond and secure favorable pricing. These new terms will provide us greater long-term flexibility while we focus on reducing leverage and maintaining a conservative financial profile. This refinancing aligns with our strategy of proactive capital management aimed at enhancing long-term value for all stakeholders."

The transaction was facilitated by DNB Carnegie, Fearnley Securities, and Pareto Securities, who acted as Joint Bookrunners. Co-Managers in the issuance included ABN AMRO Bank N.V., Clarksons Securities, SB1 Markets, and Stifel Nicolaus Europe Limited. Legal advisement was provided by Advokatfirmaet BAHR AS for the Company and by Advokatfirmaet Thommessen AS for the Joint Bookrunners.

BlueNord’s recent actions signal a strong commitment to financial stability and growth, ensuring continued support for its business strategies. With this new bond issuance, BlueNord looks to solidify its market position and support its operational goals in the coming years. Investors and stakeholders alike are encouraged by the steps the company is taking to enhance its capital structure and achieve sustainable growth. This development marks a significant milestone for BlueNord as it navigates an increasingly competitive market landscape.