Noreco uses different sources of funding and currently has the following outstanding debt instruments.
USD 250 Million Convertible Bond
USD 208 million
The bond carries a coupon of 8% p.a. payable in kind (PIK), the Company has the options to pay interest in cash in which the coupon is 6% p.a.
USD 175 million
The NOR14 USD 175 million senior unsecured bond was issued in December 2019. The bond carries a coupon of 9% p.a., payable semi-annually.