Color Group, the privately owned parent company of the Norwegian ferry company Color Lone, has raised NOK300 million in a tap issue of notes due 23September 2023.

After this issue, the company has raised NOK1.0 billion in the notes.

“The bonds were priced at 85% of par value. The net proceeds from the bond tap issue will be used for general corporate purposes. Arctic Securities acted as manager in connection with the placement of the bond tap issue,” Color Group said.

Several passenger shipping companies have raised both debt and equity to carry them through the coronavirus outbreak.