Independent journal on economy and transport policy
04:41 GMT+1
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Rickmers Maritime invokes the support of the bondholders in order to avoid the eventual liquidation or the judicial administration
The company announces that it will not be able to honor payments, between interests and reimbursements of loans and capital, pairs to about 253 million dollars
September 15, 2016
Today the Rickmers Maritime, shipping trust quoted to the Stock exchange of Singapore that work a fleet of 16 portacontainer mail rental near other companies of navigation and that is participated to 34.2% from the shipowning group German Rickmers and to 65.8% from institutional investors and private, has illustrated to the bondholders the own difficult financial situation that - has explained the company - is caused by the adverse conditions of the market and has determined a reduction of the ability to the company to tackle to the debits.
, Rickmers in particular Maritime has specified that it will not be able to carry out payments, between interests and reimbursements of loans and capital, pairs to USA 179,7 million dollars within the fixed expiration for next March and pairs to 100 million dollars of Singapore (USA 73 million dollars) within the next month of May.
Rickmers in recent days Maritime had announced to have received from the credit holders senior an offer of restructure of the debit through a new credit line of the value of USA 260,2 million dollars. Now to company it proposes instead the bondholders exchanging the final nominal amount of the obligations and the interests which had with new perpetual convertible debentures to fixed rate, pairs to 28 million dollars of Singapore (USA 20,5 million dollars).
In sight of the assembly of the 18 bondholders that would have to carry out next October, the company of Singapore has sped up their support invoking some the ballot favorable to the proposal that, if accepted - it has specified Rickmers Maritime - it would not cause "critical consequences", between which a "eventual liquidation or a judicial administration".
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Today the Rickmers Maritime, shipping trust quoted to the Stock exchange of Singapore that work a fleet of 16 portacontainer mail rental near other companies of navigation and that is participated to 34.2% from the shipowning group German Rickmers and to 65.8% from institutional investors and private, has illustrated to the bondholders the own difficult financial situation that - has explained the company - is caused by the adverse conditions of the market and has determined a reduction of the ability to the company to tackle to the debits.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
