Financing ·
BW LPG Limited announced the launch of a senior unsecured convertible bond offering with an aggregate principal amount…
BWLPBW LPG Ltd
BW LPG Limited announced the launch of a senior unsecured convertible bond offering with an aggregate principal amount of approximately USD 300 million due in 2031. The bonds carry interest rates between 2.00% and 2.50% per annum, payable semi-annually, and are convertible into new shares at a premium of 35% to 40% above the share reference price. Net proceeds will partly finance the construction of eight Panamax VLGCs with Hyundai Heavy Industries and support general corporate purposes. The offering includes a concurrent delta placement for hedging purposes, with settlement expected on September 9, 2026. BW LPG is the world’s leading owner and operator of LPG vessels.