Containerships plc issues four-year bond
Published by Joseph Green,
Editor
LNG Industry,
Containerships plc has successfully placed a €60 million senior secured bond under a framework of up to €100 million.
The Bonds, maturing in November 2021, will bear a floating rate coupon of 3 month Euribor + 6.25 per cent, with interest paid quarterly. The Bonds will be governed by Finnish law and the Company has undertaken to list the Bonds on Nasdaq Helsinki within 60 days of the issue date.
The proceeds from the transaction will be used to refinance the Company's existing bond with ISIN FI4000148804 and for general corporate purposes including investments and acquisitions.
The transaction was well received by the market, with demand primarily from Finnish institutional investors, coupled with strong participation from Swedish, Norwegian and UK accounts.
"We are pleased with the strong interest shown in the Company from both current and new bond investors. Not only does the bond issue allow the Company to lower its cost of financing; it will enable the Company to deliver on its ambition of launching Europe's first fully LNG-based supply chain, positioning it at the vanguard of European short sea logistics" says Kari-Pekka Laaksonen, CEO of Containerships.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/13112017/containerships-plc-four-year-bond/
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