EuropeFinance and Insurance
Ship Finance International raising $150m via note offering
John Fredriksen’s Ship Finance International (SFL) is raiding up to $150m via an issue of convertible senior notes due 2023.
The company will also grant the underwriters an option to purchase up to an additional $22.5m of notes to cover over-allotments.
SFL intends to use the proceeds for general corporate purposes, which may include pursuit of other business combinations, the acquisition of vessels, expansion of operations and repayment of existing debt.
Last month, SFL acquired a fleet of 15 feedermax boxships, ranging from 1,100 teu to 4,400 teu, in combination with long-term bareboat charters to a major containerline.