By Wendy Van Sickle
Columbus, Ohio, June 16 – Stolt-Nielsen Ltd. said it placed NOK 1.25 billion of three-year senior bonds with a coupon of three-month Nibor plus 450 basis points.
Stolt-Nielsen said the offering was oversubscribed.
Danske Bank, DNB Markets, Nordea and SEB are the joint lead managers.
The company said it has swapped the new bond into U.S.-dollar obligations at a fixed interest rate of 5.19%.
In connection with the new placement, the company repurchased NOK 525 million of the SNI05 bonds that mature on March 18, 2021 (ISIN: NO0010705551).
London-based Stolt-Nielsen provides integrated transportation solutions for bulk liquid chemicals, edible oils, acids and other specialty liquids.
Issuer: | Stolt-Nielsen Ltd.
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Issue: | Senior bonds
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Amount: | NOK 1.25 billion
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Maturity: | June 29, 2023
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Lead managers: | Danske Bank, DNB Markets, Nordea and SEB
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Coupon: | Nibor plus 450 bps
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Announcement date: | June 16
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