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
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
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
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
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.
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.
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
Largest provider of dredging services in the United States, Great Lakes Dredge & Dock Corporation (GLDD) informs it has completed the sale of NASDI, LLC and Yankee Environmental Services, LLC, its two subsidiaries that comprise the historical demolition business, to a privately owned demolition company located in the Midwest for US$5.3 million. GLDD points out that it retains the right to collect all outstanding accounts receivable and work in process at the date of close
The Port Authority of New York and New Jersey sees consolidated debt issuance of $1.2 bln in 2016 compared with $1.5 bln this year, according to its $7.9 billion 2016 budget released on Monday. Although next year's debt issuance represents a decline from this year
German container line Hapag-Lloyd Hapag-Lloyd settles a high-yield dollar bond partly prematurely. The carrier would seek to pay off $125m in principal on its US dollar-denominated bond two years early. "In the context of a continuous effort in optimising its capital
International Container Terminal Services, Inc.’s (ICTSI) US$450 million perpetual capital securities issue was recently recognized as the Philippines’ best corporate bond at the The Asset Triple A Country Awards 2015. ICTSI issued last August the well-structured perpetual
Financing the Municipal, Tax-Exempt Workboat Sector. Poring over any of the many marine publications that seemingly arrive daily in your mailbox or inbox, you can get an idea of the depth and breadth of the current state of U.S. commercial marine vessel shipbuilding
Stolt-Nielsen Limited is contemplating the issuance of new senior unsecured bonds in the Norwegian bond market with a minimum amount of NOK 700 million ($89 million). Proceeds will be used for general corporate purposes. The offering will be made to (i) Norwegian professional investors
Stolt-Nielsen Limited announced the placement of senior unsecured bonds in a total amount of NOK 1,100 million in a new five-year bond issue carrying a coupon of 3M NIBOR plus 4.1 percent. The placement was oversubscribed. The settlement date for the bonds will be April 8, 2015
With $617 million in capital projects planned and under way for expansion of its cruise and cargo operations moving forward, Canaveral Port Authority has received Fitch’s ‘A’ rating for $26.9 million of outstanding revenue bonds, series 2005 and 2006 A&B
DP World, one of the world's biggest port operators, wants to issue a dollar-denominated bond and could announce plans to market the deal to fixed-income investors as soon as next week, three sources aware of the matter said on Thursday. The Dubai-based firm could raise between $750 million and
'Move America Act of 2015' would help fund landside improvements to U.S. ports -APPA The American Association of Port Authorities (AAPA)—the unified and recognized voice of seaports in the Americas—publicly voiced support for the bi-partisan Move America Act of 2015
Hoegh LNG (HLNG) has successfully completed the issuance of a USD 130 million senior unsecured bond in the Nordic bond market with maturity date expected to be 5 June 2020. The bond issue will be swapped from floating to fixed interest rate.
Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and (iii) that it will not exercise the options to purchase two LR2s currently under construction (with deliveries expected in the fourth
A recovery in LatAm debt spreads opened a window for Colombia's Ecopetrol on Tuesday when it printed a US$1.5bn 11-year bond - the state-owned oil company's first debt issue in nine months. Optimism over Greek debt talks spurred risk buying on Tuesday
Philippines port operator International Container Terminal Services Inc (ICTSI) said on Wednesday it is raising $450 million through a bond issue. In a disclosure to the local stock exchange, ICTSI said its board of directors approved on Tuesday night the offering of new senior perpetual
Prices for Eurobonds from many commodity-exporting emerging markets have fallen sharply this week on fears that the latest metals price reversal will hit the ability to repay debt, especially in some African countries. A major casualty of the metals price plunge is Glencore
In third-quarter 2015, CMA CGM once again outperformed the market average in an industry shaped by a sharp fall in freight rates and overcapacity in certain markets. Freight rates were especially weak on certain lines, including Asia-Europe