SFL - Fixed Income Investor Meetings
SFL (NYSE: SFL) has initiated a series of fixed income investor meetings, potentially leading to a NOK denominated senior unsecured bond offering. The company has engaged Arctic Securities, DNB Markets, and SEB to arrange these meetings. The net proceeds from any bond issuance are intended for refinancing the existing NOK 600 million senior unsecured bonds maturing in January 2025 (ISIN NO0010872997) and for general corporate purposes.
SFL plans to offer conditional buybacks of the existing bonds in conjunction with the new bond offering. If the new bond issuance is completed, SFL intends to call any remaining outstanding amounts of the existing bonds at the prevailing call price. This financial move aims to restructure SFL's debt and potentially improve its capital position.
SFL (NYSE: SFL) ha avviato una serie di incontri con investitori a reddito fisso, che potrebbero portare a un'offerta di obbligazioni senior non garantite denominata in NOK. L'azienda ha incaricato Arctic Securities, DNB Markets e SEB di organizzare questi incontri. I proventi netti da qualsiasi emissione di obbligazioni sono destinati a rifinanziare le obbligazioni senior non garantite esistenti da 600 milioni di NOK in scadenza nel gennaio 2025 (ISIN NO0010872997) e per scopi aziendali generali.
SFL prevede di offrire riacquisti condizionati delle obbligazioni esistenti in concomitanza con la nuova emissione di obbligazioni. Se l'emissione della nuova obbligazione viene completata, SFL intende richiamare qualsiasi importo residuo delle obbligazioni esistenti al prezzo di richiamo vigente. Questa manovra finanziaria mira a ristrutturare il debito di SFL e a migliorare potenzialmente la sua posizione patrimoniale.
SFL (NYSE: SFL) ha iniciado una serie de reuniones con inversores de renta fija, que podrían llevar a una oferta de bonos senior no garantizados denominados en NOK. La compañía ha contratado a Arctic Securities, DNB Markets y SEB para organizar estas reuniones. Los ingresos netos de cualquier emisión de bonos están destinados a refinanciar los bonos senior no garantizados existentes por 600 millones de NOK, que vencen en enero de 2025 (ISIN NO0010872997), y para propósitos corporativos generales.
SFL planea ofrecer recompras condicionales de los bonos existentes en conjunto con la nueva emisión de bonos. Si se completa la nueva emisión de bonos, SFL tiene la intención de llamar cualquier monto pendiente de los bonos existentes al precio de llamada vigente. Este movimiento financiero tiene como objetivo reestructurar la deuda de SFL y mejorar potencialmente su posición de capital.
SFL (NYSE: SFL)는 고정 수익 투자자 미팅을 시작하였으며, 이는 NOK로 표시된 선순위 무담보 채권 발행으로 이어질 가능성이 있습니다. 회사는 Arctic Securities, DNB Markets 및 SEB와 협력하여 이 미팅을 주선하고 있습니다. 채권 발행에서 얻은 순수익은 2025년 1월 만기인 600백만 NOK의 기존 선순위 무담보 채권을 재융자하는 데 사용될 예정이며, 일반 기업 활동에도 사용될 것입니다.
SFL은 새로운 채권 발행과 함께 기존 채권의 조건부 매입을 제공할 계획입니다. 새로운 채권 발행이 완료되면, SFL은 기존 채권의 잔여 유효 금액을 현재의 콜 가격으로 호출할 계획입니다. 이 재무적 조치는 SFL의 부채 구조를 재편성하고, 자본 상태를 개선하려는 목표를 가지고 있습니다.
SFL (NYSE: SFL) a lancé une série de réunions avec des investisseurs en revenus fixes, pouvant mener à une offre d'obligations senior non garanties libellées en NOK. La société a engagé Arctic Securities, DNB Markets et SEB pour organiser ces réunions. Les produits nets de toute émission d'obligations sont destinés à refinancer les obligations senior non garanties existantes de 600 millions de NOK arrivant à échéance en janvier 2025 (ISIN NO0010872997) et à des fins générales d'entreprise.
SFL prévoit de proposer des rachats conditionnels des obligations existantes en parallèle de la nouvelle offre obligataire. Si la nouvelle émission d'obligations est réalisée, SFL a l'intention de rappeler tout montant restant dû des obligations existantes au prix de rachat en vigueur. Ce mouvement financier vise à restructurer la dette de SFL et à potentiellement améliorer sa position capitalistique.
SFL (NYSE: SFL) hat eine Reihe von Treffen mit Investoren im Bereich festverzinslicher Wertpapiere initiiert, die möglicherweise zu einem unbesicherten Seniorbond-Angebot in NOK führen. Das Unternehmen hat Arctic Securities, DNB Markets und SEB beauftragt, diese Treffen zu organisieren. Die Nettoerlöse aus einer etwaigen Anleihe-Emission sollen zur Refinanzierung der bestehenden unbesicherten Senior-Anleihen in Höhe von 600 Millionen NOK verwendet werden, die im Januar 2025 fällig werden (ISIN NO0010872997), sowie für allgemeine Unternehmenszwecke.
SFL plant, bedingte Rückkäufe der bestehenden Anleihen im Zusammenhang mit dem neuen Anleihe-Angebot anzubieten. Wenn die neue Anleihe-Emission abgeschlossen ist, beabsichtigt SFL, alle verbleibenden ausstehenden Beträge der bestehenden Anleihen zum aktuellen Rückkaufspreis zu rufen. Dieser finanzielle Schritt zielt darauf ab, die Schulden von SFL neu zu strukturieren und möglicherweise seine Kapitalposition zu verbessern.
- Potential new bond offering to refinance existing debt
- Planned buyback of existing bonds, potentially improving debt structure
- Engagement with reputable financial institutions for investor meetings
- None.
SFL Corporation Ltd. (NYSE: SFL) (the "Company" or "SFL") has engaged Arctic Securities, DNB Markets and SEB to arrange a series of fixed income investor meetings commencing today, September 9th. A NOK denominated senior unsecured bond offering may follow, subject to, inter alia, market conditions.
Net proceeds from any contemplated bond issuance will intendedly be used for refinancing of the Company’s existing NOK 600 million senior unsecured bonds maturing in January 2025, with ISIN NO0010872997 (the "Existing Bonds"), and general corporate purposes.
In conjunction with any contemplated bond offering, SFL intends to offer conditional buybacks of the Existing Bonds. Subject to completion of any contemplated bond issuance, the Company intends to call any remaining outstanding amounts of the Existing Bonds in whole at the prevailing call price.
September 9, 2024
The Board of Directors
SFL Corporation Ltd.
Hamilton, Bermuda
Investor and Analyst Contacts:
Aksel Olesen, Chief Financial Officer, SFL Management AS
+47 23 11 40 36
André Reppen, Chief Treasurer & Senior Vice President, SFL Management AS
+47 23 11 40 55
Marius Furuly, Senior Vice President - Energy, SFL Management AS
+47 23 11 40 16
Media Contact:
Ole B. Hjertaker, Chief Executive Officer, SFL Management AS +47 23 11 40 11
About SFL
SFL has a unique track record in the maritime industry and has paid dividends every quarter since its initial listing on the New York Stock Exchange in 2004. The Company's fleet of vessels is comprised of tanker vessels, bulkers, container vessels, car carriers and offshore drilling rigs. SFL's long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time. More information can be found on the Company's website: www.sflcorp.com
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 SFL management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although SFL 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, SFL cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.
Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward looking statements include the strength of world economies, fluctuations in currencies and interest rates, general market conditions in the seaborne transportation industry, which is cyclical and volatile, including fluctuations in charter hire rates and vessel values, changes in demand in the markets in which the Company operates, including shifts in consumer demand from oil towards other energy sources or changes to trade patterns for refined oil products, changes in market demand in countries which import commodities and finished goods and changes in the amount and location of the production of those commodities and finished goods, technological innovation in the sectors in which we operate and quality and efficiency requirements from customers, increased inspection procedures and more restrictive import and export controls, changes in the Company's operating expenses, including bunker prices, dry-docking and insurance costs, performance of the Company's charterers and other counterparties with whom the Company deals, the impact of any restructuring of the counterparties with whom the Company deals, and timely delivery of vessels under construction within the contracted price, governmental laws and regulations, including environmental regulations, that add to our costs or the costs of our customers, potential liability from pending or future litigation, potential disruption of shipping routes due to accidents, political instability, terrorist attacks, piracy or international hostilities, the length and severity of the ongoing coronavirus outbreak and governmental responses thereto and the impact on the demand for commercial seaborne transportation and the condition of the financial markets, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission. SFL disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
FAQ
What is the purpose of SFL's fixed income investor meetings?
When do SFL's existing NOK 600 million senior unsecured bonds mature?
What does SFL plan to do with the existing bonds if a new bond issuance is completed?
Which financial institutions are arranging SFL's investor meetings?
