BW LPG launches USD 300 million senior unsecured convertible bond offering
BWLP•Terms of the bonds
The bonds are expected to price at par with 2.00%–2.50% annual interest, paid semi-annually.
The initial conversion price is set at a 35%–40% premium to a share reference price, adjusted for a USD 0.95 dividend.
Settlement and redemption
Settlement is slated for Sept. 9, 2026.
The bonds will be redeemable at par on Sept. 9, 2031 unless converted or redeemed earlier.
BW LPG launches convertible bond offering
BW LPG launched an offering of about USD 300 million senior unsecured bonds due 2031, convertible into new shares.
Net proceeds are earmarked to partly finance an eight-vessel Panamax VLGC newbuild program at Hyundai Heavy Industries, with the remaining funds for general corporate purposes.
