Ship Finance to Issue USD 200 Mn of Convertible Bonds

New York-listed Ship Finance International Limited revealed its plans to offer USD 200 million aggregate principal amount of Convertible Senior Notes due 2021.

Net proceeds from the offering would be used for general corporate purposes, including working capital and the repurchase of all or a portion of its existing 3.25% convertible notes.

The notes will pay interest quarterly in arrears, have a term of five years, and will be convertible into the company’s common shares.

Upon conversion, Ship Finance will pay or deliver its common shares, or a combination of cash and the common shares, at the company’s election.

Jefferies LLC, ABG Sundal Collier, Inc. and Morgan Stanley & Co. LLC will act as underwriters, Seaport Global Securities LLC and Clarksons Platou Securities, Inc. will act as co-managers, for the offering of the notes.

Ship Finance International’s fleet of more than 70 vessels is split between tankers, bulkers, container vessels and offshore assets.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >