Fred Olsen group holding company Bonheur has successfully completed a new bond issue after a weaker third quarter result.
The Oslo-listed shipowner, managed by Anette Olsen, said it has sold NOK 500m ($61m) of notes, maturing over three years.
The debt will carry a floating interest rate and allowed the company to buy back bonds from issues worth NOK 300m and NOK 900m, expiring in February and September 2019.
Bonheur ASA said today that it bought back NOK 356m worth of bonds.
The company has another NOK 600m of bonds maturing in 2021.
Danske Bank, DNB Markets and Swedbank have been retained as joint lead managers.
Bonheur also revealed a loss of NOK 338m in the third quarter, against NOK 251m in the same period of 2016.
Revenue was down at NOK 2.18bn from NOK 3.34bn.
EBITDA for offshore drilling plunged to NOK 201m from NOK 993m, while shipping and offshore wind contributed NOK 102m, versus NOK 112m last year.
The four cruiseships saw profit dip to NOK 159m from NOK 170m on stable revenue.
Passenger days were down to 284,823 in the period, from 306,961 the year before.
Net ticket income per passenger day was up 14%, however.
Currency effects knocked NOK 15m off the cruise earnings.
But profit for renewable energy was better at NOK 137m, against NOK 120m in 2016.
