Sweden's Stena rolls out $350 million 10-year secured bullet offer; pricing Tuesday

By Paul A. Harris

Portland, Ore., Feb. 10 - Stena International SA was scheduled to hold a conference call with investors late Monday morning to discuss its $350 million offering of non-callable 10-year senior secured notes (Ba2/BB+), according to a syndicate source.

The deal is set to price on Tuesday.

Citigroup Global Markets Inc. is the left bookrunner for the Rule 144A and Regulation S for life offer. J.P. Morgan Securities LLC is the joint bookrunner.

Danske Bank, DNB Markets, Handelsbanken, Nordea, SEB and Swedbank are the co-managers.

The notes feature a 101% poison put.

Proceeds will be used to refinance debt.

Stena is a Gothenburg, Sweden-based company that has operations in shipping and offshore oil and gas exploration.

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