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HomeMaritime NewsRegionsAsiaNOL raises S$400m in bond issue

NOL raises S$400m in bond issue

NOL raises S$400m in bond issue
Singapore: Neptune Orient Lines (NOL) raised S$400m ($319.4m) on by selling straightforward five-year bonds under its $1.5bn Euro Medium Term Note Programme. The senior, unsecured and unrated bonds will pay 4.25% coupon twice a year.

“The net proceeds from the issue of the notes will be applied by the company for general corporate funding purposes and investments, which may include investments in the logistics business of the company,” Singapore-listed NOL said on 18 April.

NOL had recorded heavy net loss of $478.2m in 2011, reversing from a net profit of $460.9m in 2010.

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