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  • 2014 March 6 15:14

    Rickmers bond increased to 250 million Euros

    Rickmers Holding GmbH & Cie. KG, parent of the Rickmers Group of shipping companies, has increased its corporate bond placed in June 2013 by 25 million Euros to 250 million Euros in a private placement to institutional investors. The issue price for the new tranche was 100 per cent. The existing terms and conditions of the corporate bond continue to apply for the new tranche. The notes have a term until June 2018 and an annual coupon of 8.875 per cent, the company said in its press release.
     
    The new tranche will be traded in the Prime Standard for Corporate Bonds of the Frankfurt Stock Exchange as of 7 March 2014. The use of the net proceeds from this second increase remains unchanged in comparison to the former bond tranches. Rickmers Group intends to use the net proceeds to finance growth investments as well as to refinance bank liabilities / refinancing costs.
     
    Close Brothers Seydler Bank AG, Frankfurt am Main (Germany), acted as Sole Global Coordinator and Bookrunner on the transaction.
     
    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.


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