EuropeFinance and InsuranceGas

Yara International prices $500m bond offering

Oslo-listed Yara International has priced a $500m bond offering with a yield of 3.849% per annum over 10 years.

Yara said the issue was “well received in the market” and intends to use the net proceeds for general corporate purposes.

“The new US bond will further increase our financial flexibility and extend our maturity profile,” Torgeir Kvidal, Yara’s CFO, said in the filing.

This is Yara’s third 10-year US-dollar bond offering, having previously issued a $500m bond in June 2009 with maturity in 2019, and a $500 in December 2004 with maturity in 2014. Moody’s and Standard & Poor’s have respectively rated the bonds Baa2 (stable) and BBB (stable).

Yara, which produces and trades fertiliser and other nitrogen-based chemicals, has two 38,000-cbm multi-gas carriers and three 20,600-cbm semi-pressurised LPG carriers under construction at Hyundai Mipo, all for delivery this year.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
Back to top button