Press release from Ship Finance International Limited, March 5, 2014
Ship Finance International Limited (NYSE:SFL) (“Ship Finance” or the “Company”) announces that it has successfully placed a five-year senior unsecured bond in the Norwegian credit market with a quarterly coupon of NIBOR + 4.10 % p.a. The principal amount of the notes is NOK 900 million, which is equivalent to approximately USD 150 million. Drawdown will be in March 2014 and the Company intends to swap all payments to USD at a fixed interest rate. The bond will be applied for listing on the Oslo Stock Exchange.
The proceeds from the bond issue will be used to refinance existing debt and for general corporate purposes.
The Board of Directors
Ship Finance International Limited
Questions could be directed to:
Ole B. Hjertaker, Chief Executive Officer, Ship Finance Management AS
About Ship Finance
Ship Finance is a major ship owning company listed on the New York Stock Exchange (NYSE: SFL). Including newbuildings, the Company has a fleet of 71 vessels, including 22 crude oil tankers (VLCC and Suezmax), two chemical tankers, 12 drybulk carriers, 22 container vessels (including six newbuildings), two car carriers, six offshore supply vessels, two jack-up drilling rigs, two ultra-deepwater semi-submersible drilling rigs and one ultra-deepwater drillship. The fleet is one of the largest in the world and most of the vessels are employed on long-term charters. More information can be found on the Company’s website: www.shipfinance.org
Cautionary Statement Regarding Forward Looking Statements
This press release may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including Ship Finance management’s examination of historical operating trends. Although Ship Finance believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, Ship Finance cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.