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Rickmers major lenders back debt refinancing plan

Bank syndicate led by HSH Nordbank extends US$260.2 million new facility on condition medium-term notes will be restructured

Published Wed, Sep 7, 2016 · 09:50 PM
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Singapore

THE major bank lenders of Rickmers Maritime have extended an offer to refinance most of the trust's outstanding bank loans amid a drastic downturn in the container shipping sector.

One key condition of the offer from the senior lenders led by HSH Nordbank is the successful restructuring of S$100 million of medium-term notes due in May 2017 that will require noteholders to take a significant haircut.

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