By Paul A. Harris
Portland, Ore., March 3 - Stolt-Nielsen Ltd. has priced an upsized NOK 1.25 billion issue of three-month Nibor plus 335 basis points seven-year senior notes, according to a Monday press release from the company.
The deal was upsized from NOK 1 billion.
Price talk was Nibor plus 330 to 350 bps, according to a market source.
The notes were swapped into dollar-denominated obligations at a fixed interest rate of 5.886%, the release stated.
The issue has a dollar equivalent value of about $207 million.
Proceeds will be used to repay debt and for general corporate purposes.
DNB Markets, Nordea Markets and Swedbank Norway acted as joint lead managers.
| Issuer: | Stolt-Nielsen Ltd.
|
| Amount: | NOK 1.25 billion, increased from NOK 1 billion
|
| Maturity: | March 18, 2021
|
| Securities: | Senior notes
|
| Managers: | Nordea Markets, DNB Markets, Swedbank First Securities
|
| Coupon: | Three-month Nibor plus 335 bps, to be swapped into dollar-denominated securities with a 5.886% coupon
|
| Trade date: | March 3
|
| Settlement date: | March 18
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Nibor plus 330 to 350 bps
|
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