STX Europe to Prepay Corporate Bond Due 2012

(Press Release)
Friday, July 08, 2011

STX Europe AS ("STX Europe") has resolved to prepay its NOK 250 million senior unsecured bonds issue due 2012 according to its terms. The bonds are listed on the Oslo Stock Exchange under the ticker STX01 (ISIN NO0010566904). It is expected that the formal call-notice to the bondholders will take place shortly, and that repayment, including call premium and accrued interest, will be made with value on or about 19 August 2011.

STX Europe will fund the repayment of the bonds from the STX Europe group's own resources, which will include the proceeds from the sale of 215,590,000 shares in STX OSV Holdings Limited (STX OSV) (see separate stock exchange release today). The company will also use part of the proceeds from the sales of shares as loan to shareholders, and to repay an aggregate NOK 650 million, plus accrued interest, of shareholder loans provided by STX Business Group to STX Europe AS in 2008 and 2009.

STX Europe remains committed to STX OSV as a substantial shareholder, owning 50.75% of STX OSV after the sale of the shares. Following a successful IPO of STX OSV on the Singapore Exchange in November 2010, STX OSV has experienced strong performance and share price development. The market capitalization of STX OSV as of 7 July 2011 was approx. S$1.6 billion (approx. NOK 7.1 billion).

 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Research Vessel Heincke: Serving Science for 25 years

7 July 2015. A quarter of a century old, with over 900,000 kilometres (488,842 nautical miles) logged and still on the cutting edge of science and technology:

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

Shipbuilding

Drydocks World Completes World’s Largest Turret

Drydocks World the leading provider of maritime and offshore services to the shipping, oil, gas and energy sectors marked a major milestone in successfully completing

AVEVA, DNV GL's Sesam Integration Cuts Cost

Integration of Aveva and DNV GL's Sesam Reduces Costs in Maritime and Offshore Engineering. Engineers designing ship hulls and offshore floaters can now save

FORAN for Pertamina's Future Ships

FORAN has been chosen by state-owned company PERTAMINA to review the design of their future oil product carrier ships, under construction in a shipyard with the FORAN System.

Finance

Indonesia Expects Total to Decide on Mahakam within days

French oil firm Total  will decide how much interest it will retain from 2018 in Indonesia's offshore Mahakam oil and gas block over the next two days, the

Asia-N Europe Container Freight Rates Jumps 60%

Shipping freight rates for transporting containers from ports in Asia to Northern Europe rose by 60.4 percent to $879 per 20-foot container (TEU) in the week ended on Friday,

Stena RoRo Charters Three Vessels

Stena RoRo has reached an agreement with the Finnish shipping company Godby Shipping to long-term charter their three RoRo vessels Misida, Misana and Miranda.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Repair 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: 0.2608 sec (4 req/sec)