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SFI expands its war chest

SFI expands its war chest
Ship Finance International (SFI) has announced an offering of 8m common shares, worth around $140m at the company's current trading price.

The net proceeds from the offer on the New York Stock Exchange are earmarked for use in expanding SFI's diverse 69-vessel fleet across shipping and offshore sectors.

Morgan Stanley will be the sole book-runner for the fully underwritten offer.

At the end of May this year, SFI announced an order of four 8,700 teu box ships in South Korea, set for delivery in late 2014 and early 2015.

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