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Rickmers faces uphill task in new note revamp plan

Need for trust-manager to convince unit-holders as note-holders' wish for a more substantial debt-to-equity swap spells big unit dilution


FOLLOWING recent feedback from note-holders, Rickmers Maritime's trustee-manager has tabled a revised note restructuring plan that comes with a more substantial debt-to-equity swap. But, given the substantial equity dilution, its task of seeing this plan through may be an uphill