Stolt-Nielsen is the latest Oslo-listed shipowner to target the bond market.
The Norwegian chemical tanker player said it has asked Danske Bank, DNB Markets, Nordea and SEB to arrange a series of fixed-income investor meetings starting on Monday.
A four-year senior unsecured issue may follow, subject to market conditions.
The proceeds will be used for general corporate purposes.
Chief financial officer Jens Gruner-Hegge has been contacted for further information.
Rival raises cash
Tanker rival Odfjell successfully raised extra cash from its existing bonds in Oslo this week in an improving chemical tanker market.
The company had asked Arctic Securities, DNB Markets and Pareto Securities to explore the possibility of a potential tap issue worth up to NOK 300m ($32.71m).
Odfjell noted indications of strong interest for Odfjell bonds driven by an improving chemical tanker market and the exposure the company can give to investors.
Another Oslo-listed shipowner, Klaveness Combination Carriers, also went out on the road last week to sound out interest in a bond sale. It has not announced an outcome from these meetings as yet.
Stolt-Nielsen reports its fourth quarter results on Thursday.
In November, its Stolt Tankers unit carried out a sale and leaseback deal for 20 chemical carriers with China’s CMB Financial Leasing Co (CMBFL).
The Oslo-listed shipowner received $416m for the ships with the proceeds used to refinance certain debt secured on the vessels.
The leases were described as being of a “hybrid nature” combining elements of both financial and operating leases. Financial terms were not disclosed.
