Matson raises funds for dual-fuel newbuilds

Matson said it has issued $75 million in senior unsecured notes pursuant to a previous private placement on July 30.

The proceeds from the private placement of notes will be used for general corporate purposes, which may include paying down the company’s revolving credit facility, the company said in a statement.

Joel Wine, Matson’s Senior Vice President and Chief Financial Officer said that this financing combined with the cash flow generated by the company’s core businesses, provides ample liquidity for Matson to execute its new vessel construction program.

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LNG World News Staff; Image: Matson