Stolt-Nielsen Limited Announces Successful Bond Issuance

Stolt-Nielsen Limited Successfully Completes Bond Issuance
Stolt-Nielsen Limited (Oslo Børs: SNI) recently achieved a significant milestone by successfully placing a new senior unsecured bond issue amounting to NOK 1.5 billion. This bond, with a maturity date set for October 22, 2030, demonstrates the company's robust financial standing and appeal to investors.
Details of the Senior Unsecured Bond
The newly issued bond carries an attractive coupon rate based on 3 months NIBOR plus an additional 225 basis points per annum, ensuring quarterly interest payments to bondholders. The enthusiastic response to this offering resulted in the bond being significantly oversubscribed, indicating strong market demand.
Investor Interest and Participation
This bond issue attracted widespread interest among various investors, highlighting the confidence in Stolt-Nielsen Limited's financial health and future prospects. The oversubscription reflects a positive market sentiment, which is crucial for the company's ongoing growth strategy.
Currency Swap for Favorable Conditions
In a strategic move, the company has entered into a swap agreement, which converts this bond into USD obligations. This financial maneuver secures a fixed interest rate of 5.934%, allowing the company to manage its debt exposure more efficiently.
Joint Bookrunners' Role in the Transaction
Managing the bond issuance were Danske Bank, DNB Carnegie, Fearnley Securities, and Nordea, who acted as Joint Bookrunners. Their expertise was instrumental in the successful placement of this bond, providing valuable support throughout the transaction process.
Future Listing and Insider Participation
Following this successful issuance, an application will be submitted to list the bonds on the Oslo Stock Exchange, further enhancing the company’s visibility in the financial markets. Notably, several primary insiders and their close associates participated in the subscription for the bonds, showcasing their confidence in the company's direction.
Contact Information for Investors
For those seeking more details regarding the bond issuance, the company encourages inquiries to its key financial personnel. Jens F. Grüner-Hegge, the Chief Financial Officer, can be reached at UK +44 (0) 20 7611 8985 or via email. Similarly, Julian Villar, the Head of Corporate Finance & Treasury, is available at UK +44 (0) 20 7611 8962.
Exploring Stolt-Nielsen Limited's Future
This bond issuance is part of Stolt-Nielsen Limited's broader strategy to enhance its financial position, drive growth, and explore new opportunities within the logistics and storage sectors. As market dynamics continue to evolve, the company's proactive approach in managing its capital structure positions it well for future endeavors.
Frequently Asked Questions
What was the total amount raised in the bond issuance?
The bond issuance raised a total of NOK 1.5 billion.
What is the maturity date of the newly issued bonds?
The bonds are set to mature on October 22, 2030.
Which banks acted as Joint Bookrunners for the bond issue?
Danske Bank, DNB Carnegie, Fearnley Securities, and Nordea served as Joint Bookrunners.
What is the fixed interest rate for the USD obligations after the swap?
The fixed interest rate for the USD obligations is 5.934%.
How can investors get more information about the bond issuance?
Investors can contact Jens F. Grüner-Hegge or Julian Villar for more details regarding the bond issuance.
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