Stena to begin investor meetings Thursday ahead of $350 million equivalent notes offering

By Paul A. Harris

Portland, Ore., Jan. 25 – Stena AB plans to begin meeting with fixed income investors on Thursday ahead of a possible $350 million equivalent offering of senior secured notes with a five-year to seven-year tenor, according to a market source.

The notes will either be dollar-denominated or euro-denominated, the source said.

The offering hinges on acceptable market conditions.

The Gothenburg, Sweden-based conglomerate, which is heavily focused on maritime shipping, plans to use the proceeds to pay off the Stena International SA 5¾% senior secured notes due March 2024.

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