Stolt-Nielsen Limited
oslo : SNI

November 03, 2011 07:49 ET

Stolt-Nielsen Limited Secures Commitments for a $600 Million Senior Secured Revolving Credit Facility

LONDON--(Marketwire - Nov 3, 2011) -



Stolt-Nielsen Limited (Oslo Børs: SNI) announced today that it has obtained commitments for a $600 million senior secured revolving credit facility, which will replace the Company's two existing revolving credit lines maturing in July 2012 and January 2013 respectively. The facility will be secured by ships in the Company's fleet, and the financial covenants are in line with the Company's standard covenants. The facility, which was oversubscribed, consists of a consortium of nine banks. Closing is expected to take place in January 2012 and the new facility will mature in January 2018.


Commenting on the refinancing, Mr. Jan Chr. Engelhardtsen, Chief Financial Officer of SNL, said, "This revolver, in combination with our $300 million unsecured bond issue in June 2011, provides us with the liquidity needed for our committed capital expenditures in 2012 and beyond. Given the challenging conditions in global credit markets at the moment, we are very pleased with the completion of this significant transaction, which underscores both the strength of our balance sheet and the stability of our business portfolio."

Further terms of the transaction were not disclosed.

About Stolt-Nielsen Limited

Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt- Nielsen Gas transports liquefied petroleum gas (LPG) with its fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


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Source: Stolt-Nielsen Limited via Thomson Reuters ONE

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Contact Information

  • Contacts:

    Jan Chr. Engelhardtsen
    Chief Financial Officer
    U.K. +44 (0) 20 7611 8972
    Email Contact


    Jens F. Gruner-Hegge
    VP Corporate Finance
    U.K. +44 (0) 20 7611 8985
    Email Contact