Stolt-Nielsen Limited Completes Bond Issues
LONDON, August 23, 2012 - Stolt-Nielsen Limited (Oslo B?rs: SNI) announced today the successful placement of senior unsecured bonds in a total amount of NOK 1,000 million. The placement was oversubscribed. The total amount is split between NOK 500 million in a new seven-year bond issue, an increase of NOK 300 million in the existing bond issue with a maturity date of 19 March 2015 (SNI02) and an increase of NOK 200 million in the existing bond issue with a maturity date of 19 March 2018 (SNI03).
The settlement date for all new bonds is expected to be September 4, 2012 and the maturity date for the new seven-year bond issue is expected to be September 4, 2019. An application will be made for listing the bonds on the Oslo Stock Exchange as soon as possible.
The Company has swapped the new bonds into USD obligations of total USD 171.7 million at a fixed interest rate of 6.84% for the seven-year bonds, 4.76% for the new SNI02-bonds and 6.28% for the new SNI03-bonds.
Net proceeds from the bond issues will be used to repay debt and for general corporate purposes.
DNB Markets, Nordea Markets and Swedbank First Securities acted as joint lead managers for the bond issues.
Jan Chr. Engelhardtsen
Chief Financial Officer
U.K. +44 (0) 20 7611 8972
Jens F. Gr?ner-Hegge
VP Corporate Finance
U.K. +44 (0) 20 7611 8985
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas, through its investment in Avance Gas Holdings Ltd., transports liquefied petroleum gas (LPG) with a fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.