Rickmers plans to increase corporate bond
The management board of Rickmers Holding GmbH & Cie. KG, parent of the Rickmers Group of shipping companies, has decided to increase the volume of its corporate bond that was issued in early June 2013 via a private placement. It is planned to issue an additional tranche of up to 75 million Euros. This would increase the nominal volume of the bond from currently 175 million Euros to up to 250 million Euros. Rickmers Holding's management has fixed the issue price at 100 per cent, the company said in its press release.
The planned increase will be based on the existing bond terms and conditions: The annual coupon of 8.875 per cent, the maturity date of 11 June 2018 as well as the denomination of 1,000 Euros remain unchanged for the new tranche.
Rickmers Group intends to use the net proceeds from the second tranche to finance growth investments as well as to refinance bank liabilities / refinancing costs.
Close Brothers Seydler Bank AG, Frankfurt am Main (Germany), acts as Sole Global Coordinator and Bookrunner on the transaction. Conpair Corporate Finance GmbH, Essen (Germany), acts as Financial Advisor.
About Rickmers Group
Headquartered in Hamburg, the Rickmers Group is an established international provider of services for the maritime industry, vessel owner and ocean carrier. It is internationally represented with more than 20 offices in eleven countries and over 50 sales agencies worldwide. The business activities of the Rickmers Group are divided into three segments: Maritime Assets, Maritime Services and Rickmers-Linie.
With its Maritime Assets segment, the Rickmers Group acts as asset manager for its own and for third-party vessels, initiates and coordinates vessel projects, arranges financing and acquires, charters out and sells vessels. In the Maritime Services business segment, the Rickmers Group provides ship management for Rickmers Group's own and for third party vessels, including technical and operational management, crewing, newbuilding supervision and advisory and insurance-related services. In the Rickmers-Linie business segment, the Rickmers Group offers global breakbulk, heavy lift and project cargoes liner services and individual sailings complementing the liner services.