SOURCE: Golden Ocean Group

December 08, 2009 11:28 ET

GOGL - Golden Ocean cancels bond offering

HAMILTON, NORWAY--(Marketwire - December 8, 2009) -


GOGL - Golden Ocean cancels bond offering

Golden Ocean Group Limited ("Golden Ocean" or the "Company") announces today that it has cancelled its convertible bond offering.

Golden Ocean has favourable financing alternatives in place, and has solid cash flow from operations and strong liquidity position. The purpose of the proposed bond offering was purely to finance opportunistic investment and further expansion of the Company. The Board does not see the achievable terms including coupon and dilution to existing shareholders as an attractive financing option and have therefore decided to cancel the offering.

8 December 2009
Hamilton, Bermuda

Contact Persons:
Herman Billung: CEO, Golden Ocean Management AS
+47 22 01 73 40

Geir Karlsen: CFO, Golden Ocean Management AS
+47 22 01 73 53

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Contact Information

  • Contact Persons:
    Herman Billung: CEO, Golden Ocean Management AS
    +47 22 01 73 40

    Geir Karlsen: CFO, Golden Ocean Management AS
    +47 22 01 73 53