Far-Eastern Shipping Company plc in order to optimize its debt maturity profile based on results of negotiations with the holders of Rouble bonds series BO-02 offers to consider the revised preliminary amendments to the terms and conditions of the Rouble Bonds circulation, which were initially disclosed on February 11, 2015.
The Company has significantly improved the conditions relating to the amortization of the Rouble Bonds’ nominal value, as well as coupon payments.
The Issuer plans to arrange the General Rouble Bonds holders Meeting in the second half of March 2015.
FESCO Transportation Group is one of the leadingprivately-owned transportation and logistics companies in Russia with operations in ports, rail, integrated logistics and shipping business. Diversified but integrated asset portfolio enables FESCO to provide door-to-door logistics solutions and control almost all steps of the intermodal transportation value chain. The majority of FESCO’s operations are located in the Russian Far East and the Group benefits from growing trade volumes between Russia and Asian countries.
FESCO controls the Commercial Port of Vladivostok which has throughput capacity of 3.9 million tons of general cargo and oil products, 150,000 vehicles and over 600,000 TEU of containers. FESCO is among the 10 largest Russian private rail operators, providing services under «Transgarant» (100% subsidiary of FESCO) and «Russian Troika» (50% joint venture with JSC Russian Railways) brands. «Transgarant» operates a fleet of 16.6 thousand units of rolling stock, while «Russian Troika» operates a fleet of 1.7 thousand container platforms. FESCO has a fleet of 22 vessels, mostly deployed through own sea service lines, and 4 icebreakers leased under long-term contracts.