Western Bulk has obtained a fresh tranche of financing, which it plans to use in repaying the balance of its NOK 300m bond, according to its 2018 report.
A total of $15m (NOK 128.7m) in equity will be raised, which will be guaranteed by the Oslo-listed company’s two main shareholders, Kistefos and Ojada.
The cash will be used to repay the NOK 271m outstanding from the bond, which is due to mature this month, according to the report.
