Eni has mandated Barclays, Goldman Sachs International, Mediobanca, Morgan Stanley, Société Générale and UniCredit Bank as Joint Bookrunners for its upcoming fixed rate Euro benchmark size 8 year bond offering and for the tap of its 12 year bond issued last September, both issued under its existing Euro Medium Term Notes Program. The bonds are to be issued within the framework of the Euro Medium Term Note Program and in accordance with the resolution adopted by Eni’s Board of Directors on May 30, 2013. The issuance is aimed at maintaining a well-balanced financial structure, in terms of Eni's short and medium-long term debt and average duration of the debt. The transaction will be launched subject to market conditions and the offering is restricted to institutional investors only. The bond will be listed on the Luxembourg Stock Exchange. Eni is rated A3 (outlook negative) by Moody’s and A (credit watch negative) by Standard & Poor’s.
The Board of Directors of Italy-based global energy corporation Eni has approved possible one or more bonds issues. The issue of the bonds is to be placed with institutional investors, with a value of up to a maximum amount of 3 billion euro, or its equivalent in other currencies, to be issued in one or more tranches by 30 May 2014. The company says that the bonds will enable it to maintain a well-balanced financial structure
The world's second-oldest bank Joh. Berenberg Gossler & Co. KG is lining up a new fund worth EUR 1bn ($1.1bn) for the containership sector. A report appeared in Bloomberg said that will boost lending to the maritime industry through the shipping fund for institutional investors seeking an alternative to record low bond yields. Andreas Schultheis, head of international shipping at Berenberg said that his bank plans to draw insurers
Euronav NV announces today that following the closing of its Initial Public Offering (“IPO”) of its ordinary shares on NYSE, the Company will repay the USD 235.5 million bond issued to partly finance the acquisition of 15 VLCCs from Maersk Tankers Singapore Pte Ltd announced on 5 January 2014. The Company issued a redemption notice on 28 January 2015 and expects to repay the bond on or around the 19th of February 2015
Mitsui O.S.K. Lines, Ltd. (MOL) announced that the company determined the terms and conditions for the issuance of its 13th series of unsecured bonds (with inter-bond pari passu clause) on December 11, 2009, and completed the issuance and payment on December 17. The details are as follows: 1. Background and objectives for issuance of the 13th series domestic unsecured bonds (with inter-bond pari passu clause) When raising funds to bolster business activities
Malaysian International Shipping Corp. (MISC), the world's largest liquefied natural gas (LNG) carrier, said it expects profits in fiscal 2002 to be higher than 2001. "Despite the slowdown in the world economy, we are confident we can move ahead," said managing director Mohd Ali Yasin. MISC, part of state oil firm Petronas, earlier announced a net profit of $363 million, or 74.3 cents earnings a share, in the year ended March 2001, slightly above market expectations.
Japan's third-biggest shipping company Kawasaki Kisen Kaisha ('K' Line) plans to beef up its LNG and bulker vessels over the next four years, while downsizing its container shipping fleet. The group plans to reduce its fleet of container ships from 70 to 61; however, the TEU capacity will increase with the sale and scrapping of the smaller ships, and the introduction of 10 14,000 TEU boxships currently on order.
South Korea will pump $9.5bn (11 trillion won) into state-run policy lenders reeling from huge losses on loans made to the beleaguered shipbuilding and shipping sectors to help them deal with further corporate distress, says FT. South Korea's fund will support two state-run banks most exposed to shipping and shipbuilding firms currently being restructured. The China slowdown is partly to blame.
Aker Maritime previously obliged to postpone the agreed redemption of shares because of objections raised by the French company Coflexip. Aker RGI now offers to buy all the shares in Aker Maritime at the same price as in the redemption offer. In practice this means that the redemption can be carried out in spite of Coflexip's objections. In the original redemption offer the value of the Aker Maritime share was set at NOK 95
Siem Offshore Inc. say they have signed agreements with Helix Energy Solutions Group, Inc. to provide 2 well-intervention vessels which will be owned by Siem Offshore and chartered by Helix for an initial period of 7 years, with options that can extend the charter periods up to 22 years. The two vessels will be constructed at the Flensburger shipyard in Germany for Siem Offshore, and will be based on a design developed by Salt Ship Design
Struggling Daewoo Shipbuilding & Marine Engineering Co Ltd's will receive an injection of 2.8 trillion won ($2.4 billion) from two state-run creditor banks to save it from being delisted, one of the lenders said. Daewoo's main creditor, Korea Development Bank (KDB)
Creditors of Daewoo Shipbuilding & Marine Engineering (DSME) are set to announce a debt-for-equity swap and other measures, worth 3 trillion won (US$2.62 billion), reports Yonhap. Korea Development Bank (KDB), a main creditor of DSME
Teekay LNG Partners L.P. announced that it has issued NOK 900 million in new senior unsecured bonds that mature in October 2021 in the Norwegian bond market. The new bond issuance, which was significantly oversubscribed, has an aggregate principal amount equivalent to approximately USD 110 million
Teekay LNG Partners intends to issue new five-year senior unsecured bonds in the Norwegian bond market. Net proceeds from the bonds are expected to be used to fund newbuilding installments, as well as to refinance NOK bonds maturing in May 2017 and general partnership purposes
P3: An alternative to tolls or lockage fees in public-private partnerships for inland waterways. Within the generally sorry state of the U.S. inland waterways infrastructure, there are some locations where conditions are particularly dire
The Port of Angeles has expanded its commitment to sustainability by issuing $35.2 million in green bonds as part of a larger debt refinancing successfully completed this week. The move marks the first time a U.S. port has entered the growing sustainability bond market where investors support
Reviewing the company’s financial and operating results for the first half year ended 30 June 2016, on 23 August 2016, the Executive Board of PAO Sovcomflot (“SCF Group”) noted that despite a tanker market downturn, the company was able to demonstrate strong performance and
Griffon Hoverwork, a designer and manufacturer of technically advanced hovercrafts, has collaborated with SCIGRIP, the global supplier of smarter adhesive solutions, in the development and production of their latest vessel. The newly completed 12000TD is a 22 meter passenger craft and represents a
The new Simrad M5027 optically bonded HD monitor for the commercial marine market is a 27” marine monitor designed to meet the color calibration requirements of ECDIS systems and the size requirements of 320mm CAT1 radar systems.
Korea Times says that Hyundai Merchant Marine (HMM) will join a new global shipping alliance, as the cash-strapped shipper has successfully reached a debt-rescheduling deal with its bondholders. HMM announced that it has reached a resolution with holders of all five bond issues that
DP World could buy back around half of its $1.5 billion sukuk offering which is due to mature in 2017 as the global ports operator seeks to reduce the cost of its debt, it said in a statement on Monday. Holders of the Islamic bond have until 1600 London time on May 23 to decide whether to
Evergreen Holding Group, an unlisted company that specialises in building boats, issued a warning on Friday that it may have trouble making coupon and interest payments on a bond maturing on May 15. The company said in a statement on the website of the China interbank market operator that it
Amid speculation that Hyundai Merchant Marine Co. (HMM) may go into court receivership, the financial authorities and creditors will try to make it a subsidiary of Korea Development Bank (KDB). South Korea’s finance minister Yoo Il-ho said that HMM
Hong Kong bulker Pacific Basin has proposed a one-for-one rights issue in a bid to raise approximately $150.6m for strengthening its long term equity capital. The shipping company plans to sell around 1.9 billion rights shares at a price of HKD0.60 per share, representing a 58
Classification society Bureau Veritas has approved in principle the repair of offshore structures using the bonded composite product Coldshield, developed by Paris-based start-up Cold Pad. Coldshield is a composite structural reinforcement specifically developed for the harsh environments of