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Matson raised $100 million via sale of unsecured notes

By Star-Advertiser Staff

LAST UPDATED: 11:56 a.m. HST, Jan 28, 2014

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.

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cojef wrote:
Local bank interest rates are below 1% where we live. Since the Federal Reserve started printing all the money since 2008 interest rates has plunged to almost nil. 4.35% rate is a very attractive rate, better than my municipals, just averaging 4%.
on January 28,2014 | 03:15PM
cojef wrote:
Forgot to add that muni's are tax free for both Federal and State.
on January 28,2014 | 03:56PM
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