As it initiates restructuring Germany’s Rickmers Holding has moved to delist its 2013/2018 bond in Frankfurt due next year. The five-year EUR275m bonds were launched in 2013 and hit a high of more than EUR100 three years ago. Today they were trading at just EUR2.46.
“Upon effectiveness of the termination trading of the bonds may be suspended,” Rickmers said in an update.
Rickmers became the most high profile containership operator seeking court protection since Hanjin earlier this month after HSH Nordbank refused to accept its restructuring plan.