Hexagon Purus launches NOK 1bn convertible bond private placement

Hexagon Purus has launched a convertible bond private placement of up to around NOK 1bn ($97m) with Mitsui, Hy24, and Hexagon Composites all involved.

There have been pre-commitments and pre-allocations of NOK 850m ($82.5m) from Mitsui, Hy24 – through the Clean Hydrogen Equipment Fund – and Hexagon Composites

Mitsui will receive an allocation of NOK 500m ($48.4m) principal amount of convertible bonds as part of its non-binding Memorandum of Understanding (MoU) with Hexagon Purus. The MoU has a monetary scope of up to NOK 2bn ($193m), of which NOK 1bn ($96.9m) in aggregate will have been committed following the convertible bond private placement.

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