A Euronav subsidiary has completed a tap issue, raising $50m.
The Belgian tanker owner announced after the close Friday that its Luxembourg arm had successfully completed the move. The bonds are guaranteed by the parent, mature in 2022 and carry a coupon of 7.5%.
"This is a further positive step for Euronav. This transaction proves we continue to benefit from a variety of funding options," chief executive Hugo De Stoop said in a statement. "Increasing our presence in the debt capital markets represents an important progression for the company."
Earlier in the week, Euronav said it was looking into a tap issue after a Thursday fixed-income investor call set up by Arctic Securities, DNB Markets and Nordea.
The company already had $150m outstanding under that bond. The additional $50m brings the total to $200m.
