Stolt-Nielsen Limited (Oslo Børs: SNI), a long-term investor and manager of businesses in logistics, distribution, and aquaculture, announced on Tuesday the successful placement of a new senior unsecured bond issue. The bond, valued at NOK 1.20 billion ($134 million), is set to mature on September 26, 2028.
The bond carries a coupon of 3 months NIBOR + 315 basis points per annum with quarterly interest payments. The transaction was oversubscribed, indicating strong investor interest. In an effort to manage its currency risk, the company has swapped the new bond into USD obligations at a fixed interest rate of 7.8225%.
Danske Bank, DNB Markets, Nordea, and SEB acted as joint lead managers for the bond issue. An application will be made for the bonds to be listed on the Oslo Stock Exchange.
Certain primary insiders and close associates have subscribed and were allocated bonds in the bond issue. Further details regarding this allocation are expected to be disclosed in attached forms.
Stolt-Nielsen Limited is known for its global bulk-liquid and chemicals logistics businesses Stolt Tankers, Stolthaven Terminals, and Stolt Tank Containers Stolt Sea (NYSE:SE) Farm along with various investments.
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