NOL announces notes issue to finance newbuilds orders
NOL Group announced today it will issue S$300 million 4.40 percent notes due 2021 under its US$1.5 billion Euro Medium Term Note Programme, planning to use the proceeds to partially finance the purchase of new container ships, the Group's press release said.
The notes, expected to be issued on 22 June 2011, will bear interest at 4.40 percent and be redeemable 22 June 2021. NOL will have the option to redeem the notes, in whole or part, at any time after 22 June 2016.
This will be the second issue of notes under the programme established by NOL in 2010. Last September, NOL issued S$280 million 4.65 percent notes due 2020.
DBS Bank Ltd. has been appointed as the Global Coordinator, and DBS Bank Ltd., Standard Chartered Bank and The Hongkong and Shanghai Banking Corporation Limited have been appointed as Joint Lead Managers and Bookrunners, for the notes.
The notes, expected to be issued on 22 June 2011, will bear interest at 4.40 percent and be redeemable 22 June 2021. NOL will have the option to redeem the notes, in whole or part, at any time after 22 June 2016.
This will be the second issue of notes under the programme established by NOL in 2010. Last September, NOL issued S$280 million 4.65 percent notes due 2020.
DBS Bank Ltd. has been appointed as the Global Coordinator, and DBS Bank Ltd., Standard Chartered Bank and The Hongkong and Shanghai Banking Corporation Limited have been appointed as Joint Lead Managers and Bookrunners, for the notes.
