By Marisa Wong
Los Angeles, Nov. 27 – Stolt-Nielsen Ltd. completed a NOK 325 million tap issue of its outstanding senior bonds due Sept. 26, 2028 (ISIN: NO0013019026), according to a Monday press release.
The total outstanding amount under the bonds following the tap issue is NOK 1,525,000,000. The original NOK 1.2 billion was issued in September.
The bonds carry a floating coupon of Nibor plus 315 basis points.
The tap issue was priced at par. The company said it swapped the tap into dollar obligations at a fixed interest rate of 7.805%.
The tap issue was initiated by reversed inquiries, according to the release.
DNB Markets acted as arranger.
Proceeds from the add-on will be applied toward general corporate purposes.
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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| Amount: | NOK 325 million
|
| Issue: | Senior bonds, tap issue
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| Maturity: | Sept. 26, 2028
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| Arranger: | DNB Markets
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| Coupon: | Nibor plus 315 bps
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| Price: | Par
|
| Settlement date: | Nov. 27
|
| Total issuance: | NOK 1,525,000,000, including NOK 1.2 billion sold Sept. 12
|
| ISIN: | NO0013019026
|
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