Analysts at Fearnley Securities have said it was “not a big surprise” that Navigator Holdings failed to buy back a single bond in its latest tender.
The US-listed owner of mid-sized LPG carriers had offered to spend up to $20.58m on its NOK 600m ($69m) notes series due in 2023.
The company offered 2% on top of par value, but not one investor took the bait.
