Stolt-Nielsen S.A. to Enter $150MCredit Facility

Tuesday, June 29, 2004
Stolt-Nielsen S.A. will enter into a new five-year $150 million credit facility to be fully underwritten by DnB NOR Bank ASA. The facility will be secured by a pledge of the Company's Stolthaven Houston and Stolthaven New Orleans terminal-storage assets. The facility will be used to prepay an existing $64 million credit facility on Stolthaven Houston, which is scheduled to mature in January 2005, and for general corporate purposes. The transaction is expected to close by the end of July 2004. "SNSA continues to strengthen its liquidity position," said Niels G. Stolt-Nielsen, chief executive officer of SNSA. "The completion of this latest transaction is expected to provide us with sufficient liquidity for the foreseeable future."
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Canaveral Tops State List for Sand Bypass Funding

The Canaveral Harbor Inlet Sand Bypass Project has earned the top state ranking for 2014/15 inlet management funding. As a result, Port Canaveral is expected to receive $100,

Rotterdam port's throughput almost stable

The Port of Rotterdam’s throughput in the first quarter of 2014, at 109 million tonnes, was 0.2% below the level for the corresponding period last year.Split up by goods type,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.5723 sec (2 req/sec)