Ship Finance International raising $150m via note offering

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.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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