Norwegian raises new capital

Norwegian has raised NOK 2.5 billion in gross proceeds through a private placement and a convertible bond issue of $150 million. After the completion of the transactions, Norwegian states that it is fully funded through 2020 and beyond. The capital raise was completed on November 5 through a private placement and a convertible bond issue. Both the private placement and the convertible bond issue received significant interest and were oversubscribed, according to the airline. “The capital raise will secure required financing of working capital during the winter season and create financial headroom as the company moves from growth to profitability