SFL - Public Offering of Senior Unsecured Notes
(Thomson Reuters ONE) -
Press release from Ship Finance International Limited, November 12, 2010
Ship Finance International Limited (NYSE: SFL) ("Ship Finance" or the "Company")
announces that it intends, subject to market conditions, to publicly offer $400
million aggregate principal amount Senior Unsecured Notes due 2020. The Company
expects to launch a tender offer to purchase all of its issued and outstanding
8 1/2% Senior Notes due 2013 and to redeem any 8 1/2% Senior Notes not tendered
in the tender offer. The Company intends to use the new proceeds from this
offering to fund the repurchase or redemption of its 8 1/2% Senior Notes and to
repay other indebtedness and for other corporate purposes.
Jefferies & Company, Inc. and Goldman, Sachs & Co. are acting as joint book-
running managers for this offering. A copy of the preliminary prospectus
supplement and the accompanying base prospectus, which is filed as part of the
Company's effective shelf registration statement on Form F-3, may be obtained
from:
Jefferies & Company, Inc. Goldman, Sachs & Co.
The Metro Center 200 West Street
One Station Place, Three North New York, NY 10282
Stamford, CT 06902
Attention: Timothy Lepore Attention: Prospectus Department
Telephone: (203) 708-5831 Telephone: (866) 471-2526
Email: tlepore(at)Jefferies.com Email: prospectus-ny(at)ny.email.gs.com
An electronic copy of the preliminary prospectus supplement and the accompanying
base prospectus may also be obtained at no charge at the Securities and Exchange
Commission's website at www.sec.gov.
The notes are being offered pursuant to an effective registration statement that
the Company previously filed with the Securities and Exchange Commission. This
press release does not constitute an offer to sell or a solicitation of an offer
to buy the securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the laws of
such jurisdiction. The offering of the notes will be made only by means of a
preliminary prospectus supplement and the accompanying base prospectus, which is
filed as part of the Company's effective shelf registration statement on Form F-
3.
November 12, 2010
The Board of Directors
Ship Finance International Limited
Hamilton, Bermuda
Contact Persons:
Ole B. Hjertaker: Chief Executive Officer, Ship Finance Management AS
+47 23114011 / +47 90141243
Magnus T. Valeberg: Vice President, Ship Finance Management AS
+47 23114012 / +47 93440960
About Ship Finance
Ship Finance is a major ship owning company listed on the New York Stock
Exchange (NYSE: SFL). Including newbuildings, the Company has a fleet of 72
vessels, including 30 crude oil tankers (VLCC and Suezmax), two chemical
tankers, eight oil/bulk/ore vessels, 13 drybulk carriers (including 11
newbuildings and one vessel agreed sold with expected delivery in December
2010), nine container vessels, six offshore supply vessels, one jack-up drilling
rigs, one ultra-deepwater drillship and two ultra-deepwater semi-submersible
drilling rigs. The fleet is one of the largest in the world and most of the
vessels are employed on long-term charters.
Cautionary Statement Regarding Forward Looking Statements
This press release may contain forward looking statements. These statements are
based upon various assumptions, many of which are based, in turn, upon further
assumptions, including Company management's examination of historical operating
trends. Although Ship Finance believes that these assumptions were reasonable
when made, because assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond its control, Ship Finance cannot give assurance that it will achieve
or accomplish these expectations, beliefs or intentions.
Important factors that, in the Company's view, could cause actual results to
differ materially from those discussed in this presentation include the strength
of world economies and currencies, general market conditions including
fluctuations in charter hire rates and vessel values, changes in demand in the
tanker market as a result of changes in OPEC's petroleum production levels and
world wide oil consumption and storage, changes in the Company's operating
expenses including bunker prices, dry-docking and insurance costs, changes in
governmental rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general domestic and
international political conditions, potential disruption of shipping routes due
to accidents or political events, and other important factors described from
time to time in the reports filed by the Company with the United States
Securities and Exchange Commission.
[HUG#1462388]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ship Finance International Limited via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 15.11.2010 - 14:51 Uhr
Sprache: Deutsch
News-ID 48783
Anzahl Zeichen: 6136
contact information:
Town:
Hamilton
Kategorie:
Business News
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"SFL - Public Offering of Senior Unsecured Notes"
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