Norwegian chemical and product tanker operator Odfjell has mandated DNB Markets, Nordea and SEB to arrange a series of fixed income investor calls commencing January 11, 2021.
Following the investor calls, a sustainability-linked NOK denominated four-year senior unsecured bond issue may follow, subject to market conditions. Proceeds from the potential bond issue will be used for general corporate purposes, including refinancing of existing bonds.
The potential bond issue will be linked to Odfjell’s fleet transition plan and ambition to reduce the carbon intensity of its controlled fleet by 50% by 2030 compared to 2008 level. The issue is supported by Odfjell’s Sustainability-Linked Finance Framework which has received a Second Party Opinion from DNV GL. The Framework and SPO will be made available on Odfjell.com, and the proposed bond is intended to be listed on the Euronext ESG Bonds list.
Odfjell has recently completed a fleet renewal programme and although the company has said that no significant changes to its fleet composition is expected through to 2024 it will be undertaking a programme of investing in energy saving devices for its fleet in the interim.