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Matson raised $100 million via sale of unsecured notes

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