Stolt-Nielsen Limited is contemplating the issuance of new senior unsecured bonds with a tenor of 5 years.
The amount targeted is USD 200 million to USD 300 million, split between a US Dollar tranche and a Norwegian Kroner tranche. Proceeds from the bond issue will be used for general corporate purposes.
It is intended that the offering will be made to Norwegian professional investors and eligible counterparties as defined in the Norwegian Securities Trading Regulations Sections 10-2 to 10-4, to non-“United States persons” in “offshore transactions” within the meaning of Rule 902 under the Securities Act of 1933, as amended (the Securities Act), and “Qualified Institutional Buyers” pursuant to Rule 144A of the Securities Act. The bonds may not be purchased by, or for the benefit of, persons resident in Canada.
DnB NOR Markets, Nordea Markets and Swedbank First Securities have been appointed as Joint Lead Managers in connection with the potential transaction.
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Source: Stolt-Nielsen, June 3, 2011;