DGAP-News

Rickmers plans to increase corporate bond

Rickmers Holding GmbH & Cie. KG / Key word(s): Bond/Issue of Debt

25.10.2013 08:00

Dissemination of a Corporate News, transmitted by DGAP - a company of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.

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Announcement according to § 8 of the General Terms and Conditions of
Deutsche Börse AG for the Prime Standard for Corporate Bonds

Rickmers plans to increase corporate bond

Hamburg, 25 October 2013 - 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 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.


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Information and Explaination of the Issuer to this News:

Financial results H1 2013

Despite the ongoing challenging market environment for the shipping
industry, Rickmers Group achieved consolidated revenues of 288.2 million
Euros in H1 2013 (H1 2013: 301.4 million Euros). While consolidated EBITDA
grew by 13.1 per cent from 95.7 million Euros to 108.2 million Euros,
consolidated EBIT decreased by 29.1 per cent from 53.2 million Euros to
37.7 million Euros. Despite the adverse market environment, Rickmers Group
recorded a positive net income of 1.6 million Euros (H1 2012: 11.1 million
Euros) in the first half of 2013.

Compared to 31 December 2012, the balance sheet total rose by 3.2 per cent
to 2.85 billion Euros as of 30 June 2013 while equity increased by 6.5 per
cent to 766.5 million Euros. This represents an equity ratio of 26.9 per
cent as of 30 June 2013 compared to 26.0 per cent as of year-end 2012. The