October 28, 2016 | 77° | Check Traffic

Top News

Matson raised $100 million via sale of unsecured notes

  • HONOLULU STAR-ADVERTISERMatson's lower fuel surcharge will trim $80 to $140 off the price of shipping a container.
    Matson's lower fuel surcharge will trim $80 to $140 off the price of shipping a container.

Matson, Inc., Hawaii’s largest ocean cargo carrier, said today that it has raised $100 million for “general corporate purposes” through the private placement of 30-year senior unsecured notes.

The notes have a weighted average life of approximately 14.5 years and an interest rate of 4.35 percent, payable semi-annually, the company said.

 “We are pleased to have closed this private placement transaction which provides Matson with long-term, unsecured debt at an attractive fixed interest rate and demonstrates the company’s continued strong access to external capital,” said Joel Wine, Matson’s senior vice president and chief financial officer, in a news release.

No comments
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.