Ship Finance Eyes USD 150 Mn in Note Offering

Ship Finance International vesselsImage Courtesy: Ship Finance International

Bermuda-based Ship Finance International Limited is looking to raise USD 150 million through a public offering of senior notes due 2023.

The company said that the transaction is subject to market and other conditions. The notes will pay interest quarterly in arrears and will be convertible into cash, common shares, or a combination of the two.

Ship Finance added that the underwriters would have an option to purchase up to an additional USD 22.5 million of notes to cover over-allotments.

Net proceeds from the offering would be used for general corporate purposes, including working capital.

In mid-March, the company reached an agreement to acquire fifteen feeder-size container vessels, ranging from 1,100 TEU to 4,400 TEU, and disposed of a 1,700 TEU boxship.

The fifteen units were to be acquired in combination with long-term bareboat charters to an undisclosed container line.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 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 1

Salvage & Wreck

Salvage and Wreck Removal Conference will focus on Casualty management case studies, Dealing with hazardous cargo and container ship fires…

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >