Rickmers Maritime to Restructure Debt amid Liquidation Fears

September 19, 2016

Singapore-listed containership owner Rickmers Maritime will not be able to pay USD 179.7 million of senior debt which is due in March 2017, the company said in an investor presentation filed to the Singapore Exchange. Furthermore, due to adverse market conditions which affected the company’s financial performance, Rickmers Maritime said it will not be able to meet on-going coupon and principal payments of the SGD 100 million (USD 73.1 million) 8.45% notes due in May 2017.

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