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Stolt-Nielsen to raise USD 165.5 million on stock exchange

The Norwegian tanker group plans to issue bonds in effort to reduce its debts, says the company in a brief to the stock exchange on Monday.

Norwegian Stolt-Nielsen Limited plans to issue bonds on the Oslo Stock Exchange in an attempt to raise as much as USD 165.5 million. The proceeds will be used to reduce the company's debts as well as for general corporate purposes, says the tanker group in a brief to the Oslo Stock Exchange.

Stolt-Nielsen Limited recently published an annual report that exceeded expectations. The group achieved a 4th quarter net result of USD 36.7 million, compared to USD 21.8 million in the previous quarter.

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