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RICKMERS MARITIME ESTABLISHES S$300 MILLION MULTIC
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a06724
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20-Nov-2013 10:04
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Taking in more debts ? RICKMERS MARITIME ESTABLISHES S$300 MILLION MULTICURRENCY MEDIUM TERM NOTE PROGRAMME Singapore, 19 November 2013 ? The Trustee-Manager of Mainboard-listed Rickmers Maritime (the ?Trust?) Rickmers Trust Management Pte. Ltd. (?RTM? or the ?Issuer?) today announced the establishment of a S$300 million multicurrency medium term note programme (the ?Programme?). DBS Bank Ltd. and The Hongkong and Shanghai Banking Corporation have been appointed to act as joint arrangers and dealers of the Programme. Under the Programme, the Issuer may issue notes in series or tranches from time to time in Singapore dollars or any other currency as may be agreed between the Issuer and the relevant dealer (the ?Notes?). Each series or tranche of the Notes may be issued in various amounts and tenors, and may bear interest at fixed, floating, variable, or hybrid rates or may not bear interest. Unless specified otherwise in the relevant pricing supplement, the net proceeds arising from the issue of the Notes under the Programme (after deducting issue expenses) will be used to finance capital expenditures and for general corporate purposes. These include the refinancing of borrowings and the financing of the Trust?s and its subsidiaries? working capital requirements. Mr Thomas Preben Hansen, the Chief Executive Officer of RTM, commented, ?The establishment of this Programme further diversifies our access to funding across various sources, and enables us to issue debt over different tenors. It also provides us with the flexibility to tap the market according to corporate needs. On top of our move to strengthen our balance sheet over the past quarters, this better positions us to capitalise on growth opportunities as and when they occur.? http://rickmers.listedcompany.com/news.html/id/381315 |
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