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Luxembourg Stock Exchange News

07 Feb 2017

Hapag-Lloyd Successfully Places Additional Notes

Hapag-Lloyd AG has successfully placed Additional Notes and was able to upsize the volume from the originally announced EUR 150 million to EUR 200 million due to high demand. The Additional Notes are issued under the indenture dated 1 February 2017 with a maturity of five years and a coupon of 6.75%. The emission price was 102.375% leading to a yield to maturity of 6.19%. The proceeds from the sale of the Additional Notes will be used to redeem a portion of Hapag-Lloyd’s existing 7.75% Senior Euro Notes due 2018. “After successfully refinancing our US dollar bond due in autumn to a significantly lower coupon, with the completion of a bond tap offering…

17 Jan 2017

Hapag-Lloyd Rolls out Euro Bond Offering

Global container shipping company Hapag-Lloyd has launched a euro bond offering with a volume of EURO 150mln ($159mln) and a maturity of five years. Part of the proceeds, initially amounting to USD 50 million converted (approx. EUR 47 million), will be used for the early redemption of US dollar notes due in autumn 2017. The US dollar notes originally had a volume of USD 250 million, half of which was already repaid in 2015. The remaining proceeds of the new euro bond will be used for general corporate purposes (including further repayment of existing indebtedness). Hapag-Lloyd generated a positive net result in the third quarter of 2016 and EBITDA of EUR 381.3 million in the first nine months of 2016. The new euro bond will be listed on the Luxembourg Stock Exchange.

16 Sep 2016

SES Launches Maritime+ Service

SES S.A. (Euronext Paris and Luxembourg Stock Exchange: SESG) today announced the launch of its global SES Maritime+ service that will deliver high-speed connectivity to vessels traversing oceans. SES Maritime+ will enable maritime customers to have easy access to customisable bandwidth and coverage packages, ensuring satellite capacity is effectively utilised. Vessels traversing the oceans will be offered seamless roaming, leveraging SES’s global fleet of over 50 satellites, extensive ground infrastructure of over 20 teleports and more than 6,000 points of presence. The managed connectivity service combines SES’s global network infrastructure and hybrid satellite capacity with the latest technology from VT iDirect…

12 Feb 2014

Law Firm Ince & Co Advise on Huge Jack-Up Rig Deal

Martin Brown: Photo courtesy of Ince & Co

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 jack-up rig market operating in the Mexican Gulf of Mexico. Ince & Co explain that the purpose of the issuance is to refinance the acquisition of three already delivered new jack-up rigs, to finance the acquisition of a fourth new jack-up rig, and for general corporate purposes.

14 Nov 2013

Eni: New Fixed Rate Bond Offering

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.

20 Sep 2013

Hapag-Lloyd Successfully Places Bond

Volume of EUR 250 million / Coupon at 7.75% / Bond was several times oversubscribed. Hapag-Lloyd AG has successfully placed a bond with a volume of EUR 250 million with institutional investors. The bond with a maturity of five years has a coupon of 7.75% and was several times oversubscribed. The emission price was 100.00%. The proceeds of the bond will be used for general corporate purposes including refinancing of outstanding indebtedness (approx. EUR 200 million), and for early redemption of parts of the existing Senior Notes due 2015 (approx. EUR 50 million).

02 Apr 2002

Superior Announces Tender Offer Per Share

Superior Navigation Ltd. announced that in its $5 per share tender offer for the American Depositary Shares and Ordinary Shares of Anangel-American Shipholdings Limited, 98.86 percent or 23,700,822 of the ADSs and Ordinary Shares had been tendered and purchased as of 12:00 midnight, New York City time, on Friday, March 29, 2002, the expiration time of the offer. Superior Navigation will provide a subsequent offering period of 20 business days, commencing immediately and expiring at 5:00 p.m. New York City time on Friday, April 26, 2002 for Anangel shareholders who have not yet tendered their shares. All shares properly tendered during the subsequent offering period will be accepted and paid for at the same $5.00 per share in cash.

16 May 2002

Tidewater’s O'Malley Officially Steps Down

Tidewater Inc. (NYSE:TDW) announced on March 28 that William C. O'Malley, the company's Chairman, President and CEO for most of the past eight years, has officially stepped down as Tidewater's CEO, handing over the reins of leadership to Dean E. Taylor. Taylor, 53, has served as President of Tidewater since October 2001 when O'Malley, 65, announced his impending retirement at the end of March 2002. Taylor's career with Tidewater started in 1978 where he served as an assistant manager in the company's Morgan City, La. office. With his Navy background and business savvy, Taylor gradually worked his way up through Tidewater's ranks to become an executive vice president in December of 2000.