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The settlement date is expected to be 22 June 2011 and the maturity date 22 June 2016. An application will be made for listing of the bonds on Oslo Stock Exchange as soon as possible. The Company has swapped the bond issue into a USD obligation at a fixed interest rate of 6.63% for the entire loan period. Net proceeds from the bond issue will be used for funding of expansion opportunities and general corporate purposes. Commenting on the issue, Mr. Niels G. Stolt-Nielsen, Chief Executive Officer of SNL, said: "We are pleased with the favourable response to this placement, which I believe speaks largely to the strength of SNL's operations and balance sheet. This issue provides the Company with additional liquidity on attractive terms and gives the Company added financial flexibility to capitalize on expansion opportunities without having to rely solely on secured bank financing." DnB NOR Markets, Nordea Markets and Swedbank First Securities acted as joint lead managers of the bond issue. 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. Stolt-Nielsen S.A. press release |
Stolt-Nielsen Limited Completes Bond Issue