Noreco uses different sources of funding and currently has the following outstanding debt instruments.
Key informationIssued26.07.2019Maturity26.07.2027ISINNO0010851520Outstanding amountUSD 164 million
The NOR13 USD 158 million subordinated convertible bond was issued in July 2019. The bond carries a coupon of 8% p.a. payable in kind (PIK), the Company has the options to pay interest in cash in which the coupon is 6% p.a.
Key informationIssued17.12.2019Maturity17.06.2026ISINNO001087090.0Outstanding amountUSD 175 million
The NOR14 USD 175 million senior unsecured bond was issued in December 2019. The bond carries a coupon of 9% p.a., payable semi-annually.