Oslo-listed Stolt says only that cash from the bonds will be used for general corporate purposes, with the minimum level set at NOK 700m ($89m).

Stolt is no stranger to the bond market having raised $207m in this way just over a year ago. 

The tanker owner finished 2014 with bond debt of $691.4m, its annual report says.

Executives at Stolt could not immediately be reached for further comment on today’s move.