Rickmers Holding GmbH & Cie. KG, parent of the Rickmers Group of shipping companies, has increased a corporate bond placed in June 2013 by 50 million euros ($67 million) to 225 million euros in a private placement to institutional investors. Rickmers Holding intends to use the net proceeds from the second
tranche to finance growth investments as well as to refinance bank
liabilities and refinancing costs.
The notes have a maturity of five years and an annual coupon of 8.875 percent. The new tranche will be traded in the Prime Standard for Corporate Bonds of the Frankfurt Stock Exchange as of Nov. 7. The existing terms and conditions of the corporate bond continue to apply for the new tranche.
Rickmers raises another 50 million euros
