HONOLULU, Jan. 28, 2014 /PRNewswire/ -- Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, is pleased to announce the issuance today of $100 million in 30-year final maturity senior unsecured notes (the "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.
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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."
About the Company
Founded in 1882, Matson is a leading U.S. carrier in the Pacific. Matson provides a vital lifeline to the island economies of Hawaii, Guam, Micronesia and select South Pacific islands, and operates a premium, expedited service from China to Southern California. The Company's fleet of 18 vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges. Matson Logistics, established in 1987, extends the geographic reach of Matson's transportation network throughout the continental U.S. Its integrated, asset-light logistics services include rail intermodal, highway brokerage and warehousing. Additional information about Matson, Inc. is available at www.matson.com.
SOURCE Matson, Inc.
