Rickmers seeks to delist bond

Rickmers seeks to delist bond

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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