Matson, Inc., a leading U.S. carrier in the Pacific, announced yesterday the issuance of $100 million in 30-year final maturity senior unsecured notes pursuant to a previously announced private placement on November 6, 2013.
The Notes have a weighted average life of approximately 14.5 years and bear interest at a rate of 4.35%, payable semi-annually. The proceeds from the private placement of Notes will be used for general corporate purposes.
Joel Wine, Matson’s Senior Vice President and Chief Financial Officer commented, “ 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. ”
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Matson, January 29, 2014