By Lisa Kerner
Charlotte, N.C., Nov. 6 - Matson, Inc. announced it will issue $100 million of 30-year senior notes.
The notes will bear interest at 4.35% and have a weighted average life of about 14.5 years, according to a company news release.
Matson expects to issue the notes in January.
Proceeds will be used for general corporate purposes.
The notes will begin to amortize in 2021, with annual principal payments of $5 million to $10 million until 2028. Beginning in 2029, and in each year thereafter, the annual principal payments will be $2 million.
Matson is a Honolulu-based ocean transportation and logistics company.
| Issuer: | Matson, Inc.
|
| Issue: | Senior notes
|
| Amount: | $100 million
|
| Coupon: | 4.35%
|
| Maturity: | 2044; weighted average life of 14.5 years
|
| Settlement: | January
|
| Distribution: | Private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
