DGAP-News
Rickmers Maritime Singapore bond coupon payment default has no impact on the financing of Rickmers Holding and its subsidiaries
DGAP-News: Rickmers Holding AG / Key word(s): Financing/Bond
Rickmers Maritime Singapore bond coupon payment default has no impact on the
financing of Rickmers Holding and its subsidiaries
18.11.2016 / 10:29
The issuer is solely responsible for the content of this announcement.
Rickmers Maritime Singapore bond coupon payment default has no impact on the
financing of Rickmers Holding and its subsidiaries
18.11.2016 / 10:29
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
18 November 2016
Rickmers Maritime Singapore bond coupon payment default has no impact on
the financing of Rickmers Holding and its subsidiaries
Hamburg, 18 November 2016 - On 15 November 2016 Rickmers Trust Management
Pte. Ltd., in its capacity as Trustee Manager of Rickmers Maritime,
Singapore, announced that Rickmers Maritime is not in a position to make
the coupon payments due on 15 November 2016 to holders of the bond (ISIN
NO. SG6QC6000001) issued by Rickmers Maritime.
This announcement and the default on coupon payments have no impact on the
financing of Rickmers Holding AG and its subsidiaries:
- Rickmers Holding AG and its subsidiaries on the one hand and Rickmers
Maritime on the other do not have any common financing structures;
their sources of finance are fully separate from one another.
- Neither does the coupon-payment default on the bond issued by Rickmers
Maritime trigger any Cross-Defaults or Events of Default under the
terms of the financing structures of Rickmers Holding AG or its
subsidiaries.
- Through the sale of all shareholdings in Rickmers Trust Management Pte.
Ltd. on 17 October 2016 Rickmers Maritime is no longer controlled by
Rickmers Holding AG. From this time forward the equity method will be
used to include Rickmers Maritime in the Group's consolidated financial
statements as a shareholding in an associated company.
Moreover, the business activities of Rickmers Maritime on the one hand and
the Rickmers Group on the other are completely separate from one another.
From an overall Group perspective the Rickmers Group merely provides an
insignificant volume of maritime services for the vessels operated by
Rickmers Maritime. Furthermore there also is no operational impact on the
vessels owned by Rickmers Group.
About the Rickmers Group
The Rickmers Group is an international service provider in the maritime
transport sector and a containership owner with a global blue chip customer
base. It is represented in its main offices in Hamburg and Singapore, in
eleven countries and more than 50 sales agencies worldwide. The Group's
business activities are divided into three segments: Maritime Assets,
Maritime Services and Rickmers-Linie.
In the Maritime Assets segment the Rickmers Group is active as Asset
Manager for its own vessels and also for those of third parties. The Group
initiates and coordinates shipping projects, organises financing and
acquires, charters and sells ships. In the Maritime Services business
segment the Rickmers Group provides shipmanagement services for its own
vessels as well as for those owned by third parties; these services
comprise technical and operational management, crewing, newbuild
supervision, consultancy and insurance-related services. In the Rickmers-
Linie business segment the Rickmers Group operates as a shipping line for
breakbulk, heavy lift and project cargo, and additionally offers individual
voyages.
Press inquiries:
Kirchhoff Consult AG
Jens Hecht
T: +49 (0)40 60 91 86 0
F: +49 (0)40 60 91 86 60
E: jens.hecht@kirchhoff.de
---------------------------------------------------------------------------
18.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Rickmers Holding AG
Neumühlen 19
22763 Hamburg
Germany
Phone: +49 40 389177 0
Fax: +49 40 389177 500
E-mail: info@rickmers.com
Internet: www.rickmers.com
ISIN: DE000A1TNA39
WKN: A1TNA3
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange;
Open Market in Frankfurt (Prime Standard for Corporate
Bonds)
End of News DGAP News Service
---------------------------------------------------------------------------
522355 18.11.2016
18 November 2016
Rickmers Maritime Singapore bond coupon payment default has no impact on
the financing of Rickmers Holding and its subsidiaries
Hamburg, 18 November 2016 - On 15 November 2016 Rickmers Trust Management
Pte. Ltd., in its capacity as Trustee Manager of Rickmers Maritime,
Singapore, announced that Rickmers Maritime is not in a position to make
the coupon payments due on 15 November 2016 to holders of the bond (ISIN
NO. SG6QC6000001) issued by Rickmers Maritime.
This announcement and the default on coupon payments have no impact on the
financing of Rickmers Holding AG and its subsidiaries:
- Rickmers Holding AG and its subsidiaries on the one hand and Rickmers
Maritime on the other do not have any common financing structures;
their sources of finance are fully separate from one another.
- Neither does the coupon-payment default on the bond issued by Rickmers
Maritime trigger any Cross-Defaults or Events of Default under the
terms of the financing structures of Rickmers Holding AG or its
subsidiaries.
- Through the sale of all shareholdings in Rickmers Trust Management Pte.
Ltd. on 17 October 2016 Rickmers Maritime is no longer controlled by
Rickmers Holding AG. From this time forward the equity method will be
used to include Rickmers Maritime in the Group's consolidated financial
statements as a shareholding in an associated company.
Moreover, the business activities of Rickmers Maritime on the one hand and
the Rickmers Group on the other are completely separate from one another.
From an overall Group perspective the Rickmers Group merely provides an
insignificant volume of maritime services for the vessels operated by
Rickmers Maritime. Furthermore there also is no operational impact on the
vessels owned by Rickmers Group.
About the Rickmers Group
The Rickmers Group is an international service provider in the maritime
transport sector and a containership owner with a global blue chip customer
base. It is represented in its main offices in Hamburg and Singapore, in
eleven countries and more than 50 sales agencies worldwide. The Group's
business activities are divided into three segments: Maritime Assets,
Maritime Services and Rickmers-Linie.
In the Maritime Assets segment the Rickmers Group is active as Asset
Manager for its own vessels and also for those of third parties. The Group
initiates and coordinates shipping projects, organises financing and
acquires, charters and sells ships. In the Maritime Services business
segment the Rickmers Group provides shipmanagement services for its own
vessels as well as for those owned by third parties; these services
comprise technical and operational management, crewing, newbuild
supervision, consultancy and insurance-related services. In the Rickmers-
Linie business segment the Rickmers Group operates as a shipping line for
breakbulk, heavy lift and project cargo, and additionally offers individual
voyages.
Press inquiries:
Kirchhoff Consult AG
Jens Hecht
T: +49 (0)40 60 91 86 0
F: +49 (0)40 60 91 86 60
E: jens.hecht@kirchhoff.de
---------------------------------------------------------------------------
18.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Rickmers Holding AG
Neumühlen 19
22763 Hamburg
Germany
Phone: +49 40 389177 0
Fax: +49 40 389177 500
E-mail: info@rickmers.com
Internet: www.rickmers.com
ISIN: DE000A1TNA39
WKN: A1TNA3
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange;
Open Market in Frankfurt (Prime Standard for Corporate
Bonds)
End of News DGAP News Service
---------------------------------------------------------------------------
522355 18.11.2016
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