Stolt-Nielsen Limited Secures Commitments for a $600 Million Senior Secured Revolving Credit Facility
(Thomson Reuters ONE) -
London, England - November 3, 2011 - Stolt-Nielsen Limited (Oslo Børs: SNI)
announced today that it has obtained commitments for a $600 million senior
secured revolving credit facility, which will replace the Company's two existing
revolving credit lines maturing in July 2012 and January 2013 respectively. The
facility will be secured by ships in the Company's fleet, and the financial
covenants are in line with the Company's standard covenants. The facility,
which was oversubscribed, consists of a consortium of nine banks. Closing is
expected to take place in January 2012 and the new facility will mature in
January 2018.
Commenting on the refinancing, Mr. Jan Chr. Engelhardtsen, Chief Financial
Officer of SNL, said, "This revolver, in combination with our $300 million
unsecured bond issue in June 2011, provides us with the liquidity needed for our
committed capital expenditures in 2012 and beyond. Given the challenging
conditions in global credit markets at the moment, we are very pleased with the
completion of this significant transaction, which underscores both the strength
of our balance sheet and the stability of our business portfolio."
Further terms of the transaction were not disclosed.
Contacts:
Jan Chr. Engelhardtsen
Chief Financial Officer
U.K. +44 (0) 20 7611 8972
j.engelhardtsen(at)stolt.com
Jens F. Grüner-Hegge
VP Corporate Finance
U.K. +44 (0) 20 7611 8985
j.gruner-hegge(at)stolt.com
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 transports liquefied petroleum gas (LPG) with its fleet of very
large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock
Exchange.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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: Stolt-Nielsen Limited via Thomson Reuters ONE
[HUG#1560556]
Unternehmensinformation / Kurzprofil:
Datum: 03.11.2011 - 12:49 Uhr
Sprache: Deutsch
News-ID 83755
Anzahl Zeichen: 3066
contact information:
Town:
London
Kategorie:
Business News
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