Stolt-Nielsen completes NOK 1.5 bn bond issue, insiders subscribe

Stolt-Nielsen Limited announced the successful placement of a new senior unsecured bond issue of NOK 1.5 billion, maturing on October 22, 2030. The bond carries a coupon of 3 months NIBOR + 225 bps per annum with quarterly interest payments. The company has swapped the new bond into USD obligations at a fixed interest rate of 5.934%. The transaction was significantly oversubscribed, highlighting broad investor interest. An application for listing on the Oslo Stock Exchange will be made.

Close associates and primary insiders, including Fiducia Limited and Stonehedge Trust, participated in the bond issue. Fiducia Limited, a close associate of Niels G. Stolt-Nielsen and Jacob B. Stolt-Nielsen, subscribed for 100 bonds totalling NOK 50,000,000. Stonehedge Trust, also a close associate of Niels G. Stolt-Nielsen, subscribed for 20 bonds totalling NOK 10,000,000.