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, in terms of short term and medium/long-term debt and average duration of the debt. The bonds may be listed on regulated markets. Italy-based Eni is an integrated company that operates across the entire energy chain, employing some 78,000 people in 90 countries around the world. They point to scientific research and technological innovation as beign at the heart of its strategies for sustainable development.
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
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.
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
China Rongsheng Heavy Industries to offer HK$1,000,000,000 worth of 7% convertible bonds due 2016. The estimated net proceeds from the issue of the Convertible Bonds, after deduction of commissions and expenses, would be approximately HK$992,500,000, which will be used for working capital and general corporate purposes and repayment of loans of the Group. The company explains that assuming full conversion of the Convertible Bonds at the initial Conversion Price of HK$1
Malaysian International Shipping Corp (MISC), the country's flag carrier, is planning to issue yankee bonds worth up to $500 million in the next few weeks. The yankee bond offering, where the debt is issued in the U.S. market, will be the second from Malaysia this year. Traders said state power firm Tenaga Nasional would issue $800 million in bonds by the middle of next month, with the company expected to go on a roadshow soon
By Brett Esber Anyone planning to build a vessel in a U.S. shipyard, and any U.S. shipyard planning a shipyard improvement project, should consider using the Title XI program to finance the project. In a nutshell, the Title XI program is a loan guarantee program under which the U.S. Government guarantees bonds issued or a bank loan extended to finance the construction of a vessel in a U.S. shipyard or a U.S. shipyard improvement project
Wilh. Wilhelmsen ASA reported it has successfully completed a placement in the Norwegian bond market. The company has through a combination of placement of own bonds in WWI13 and by tapping the same loan in aggregate placed a total amount of NOK 560.5 million. WWI13 has final maturity November 15, 2012. In connection with the placement, Wilh. Wilhelmsen ASA has bought back bonds amounting to NOK 65 million in WWI11 (NO 001027575.3), NOK 75 million in WWI16 (NO 001030107
Reuters - Seadrill, the world's largest offshore oil driller by market capitalization, has completed the issue of a 1,500 million Swedish crowns ($234.18 million) senior unsecured bond with a March 2019 maturity, the firm said on Thursday.
Stolt-Nielsen Limited announced today the successful placement of senior unsecured bonds in a total amount of NOK 1,250 million (approximately $207 million USD) in a new seven-year bond issue carrying a coupon of 3m Nibor + 3.35%. The settlement date for the new bonds is expected to be March 18
Euronav today announced that the meeting of shareholders has approved a $300 million capital increase against issuance of 32,841,528 new shares to acquire 15 Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. for a total acquisition price of $980 million, as announced January 5
At the SMM Ship Finance Forum just ahead of SMM, the leading international maritime trade fair hamburg, experts will discuss the potential and prospects for new ship financing models. In spite of low newbuilding prices, the total number of ship orders is declining around the world
International law firm Ince & Co (Singapore) LLP represented Oro Negro in its international bond issuance, an offering of US$725-Million Notes due 2019. Partner Martin Brown described the issue as very good news for both the global high yield market and the oil services sector including the
Inchcape Shipping Services has successfully supported Saipem with a major pipe laying project in the Gulf of Mexico. Providing marine agency and logistics support for Saipem’s newest pipelay vessel Castorone during its first project in the Gulf
In early January 2014, Euronav announced the acquisition of 15 Very Large Crude Carriers (VLCC) from Maersk Tankers Singapore Pte Ltd. for a total acquisition price of $980 million (USD), the executive committee of Euronav NV now announce that it has issued a $235 million seven-year bond to
Condition monitoring specialists Sensonics success as a major exporter of instrumentation which protects power plants around the world has been acknowledged by the government initiative to make it easier for the U.K.’s small businesses to grow
Descartes Systems Group transformed its core business from the storage of grains to the storage of oils with the help of Descartes' advanced European customs connectivity and compliance capabilities. "In the European oil storage business
MarineNav Ltd. has developed its cost-effective Mariner Series specifically for commercial vessels requiring dedicated single-input marine grade displays. Ideal for use with Engine Management, Advanced Vessel Monitoring, radar and ECDIS systems
Advancements in nanotechnology currently offer organizations with cargo ships, fleet vehicles, trains and industrial equipment a long-term alternate to conventional paints. Nanovere Technologies introduces Nano-Clear for Industrial Applications, designed to dramatically improve corrosion resistance
Euronav NV announced that on January 10, 2014 its share capital was increased following the exercise of the conversion option of 491 convertible bonds issued in 2013 and maturing in 2018. That resulted in the issuance of 8,163,810 new ordinary shares.
Euronav NV announces that on December 19, 2013 its share capital was increased following the exercise of the conversion option of 64 convertible bonds issued in 2013 and maturing in 2018. That resulted in the issuance of 1,041,607 new ordinary shares
Commissioner Doyle briefed the Federal Maritime Commission at today's open meeting and provided details and recent information pertaining to efforts to clarify the People's Republic of China new Value Added Tax regime. He also discussed China's interest in establishing a mutual NVOCC legal
Lawyers for the Arctic 30 have started to lodge applications with Russia's Investigative Committee seeking exit visas for the non-Russian nationals. If the applications are approved, the foreign nationals would be allowed to leave Russia to await ongoing investigations into their Greenpeace