Stolt-Nielsen Collects USD 175 Mn from Bond Issue

Stolt-Nielsen Limited Oslo-listed shipowner Stolt-Nielsen has managed to collect up to USD 175 million from its latest senior unsecured bonds placement. Net proceeds from the bond issue are set to be used for the refinancing of outstanding bonds and general corporate purposes. The company completed the placement of senior unsecured bonds in the Nordic bond market in a new 5-year bond issue carrying a fixed coupon of 6.375%. Stolt-Nielesen informed that the placement was oversubscribed. The shipowner added that the settlement date for the bonds will be September 21, 2017 and the maturity date will be September 21, 2022. Additionally, an application will be made for listing the bonds on the Oslo Stock Exchange as soon as possible. Danske Bank, DNB Markets, Nordea and Swedbank acted as joint lead managers for the bond issue.