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.
