6-Jun-2013

Rickmers with successful capital market debut

Trading of the Rickmers bond on a when-issued basis on the Frankfurt Stock Exchange started 6 June 2013 | Issue volume is € 175 million | Proceeds to be used equally towards growth and refinancing 

Hamburg, 6 June 2013 – Rickmers Holding GmbH & Cie. KG, parent of the Rickmers Group of shipping companies, has closed the order book of its corporate bond issue (ISIN: DE000A1TNA39, WKN: A1TNA3) earlier with the subscription period ending 5 June 2013 at 5pm CET. Trading of the bond on a when-issued basis in the unregulated market of the Frankfurt Stock Exchange (Open Market, Entry Standard) with the inclusion of the bond in the Prime Standard for Corporate Bonds segment began today.

The Rickmers corporate bond has a gross issuance volume of € 175 million. The notes have a maturity of five years and an annual coupon of 8.875 percent.

Ronald D. Widdows, CEO of Rickmers Group: „With this first step, we have achieved our objective of bringing Rickmers Holding to the capital market, successfully tapping a new source of funding that provides Rickmers with an additional tool to take advantage of the opportunities that will develop in the market going forward. This bond issue also has brought us into a whole new set of relationships with many in the investment community that will be beneficial as we build and expand our business.

„With a volume of € 175 million, the Rickmers bond is one of the largest SME bonds to date in Germany. The successful issue confirms the value of the significant effort that our organization has devoted to transforming the Group into a capital market oriented company”, says Ignace Van Meenen, Deputy CEO and CFO. 

“We designed a process to approach investors with a coupon range at the beginning of our engagement and then fixed the coupon at a level to reach what we viewed as an optimal combination of issue volume, investor diversity and coupon rate in the current market environment”, adds Mark-Ken Erdmann, Deputy CFO.

“The net proceeds from the issue are to be used to finance growth and investments as well as to refinance bank liabilities”, says Frank Bünte, CRO und Head of Capital Markets.

Close Brothers Seydler Bank AG, Frankfurt am Main (Germany), acted as Sole Global Coordinator and Sole Bookrunner on the transaction. Co-lead manager was TUSK Capital Management Limited, London (UK). Conpair Corporate Finance GmbH, Essen (Germany), acted as financial advisor on the transaction.

 

About Rickmers Group

Headquartered in Hamburg, the Rickmers Group is an established international provider of services for the maritime industry, vessel owner and ocean carrier. It is internationally represented with more than 20 offices in eleven countries and over 50 sales agencies worldwide. The business activities of the Rickmers Group are divided into three segments: Maritime Assets, Maritime Services and Rickmers-Linie.

With its Maritime Assets segment, the Rickmers Group acts as asset manager for its own and for third-party vessels, initiates and coordinates vessel projects, arranges financing and acquires, charters out and sells vessels. In the Maritime Services business segment, the Rickmers Group provides ship management for Rickmers Group’s own and for third party vessels, including technical and operational management, crewing, newbuilding supervision and advisory and insurance-related services. In the Rickmers-Linie business segment, the Rickmers Group offers global breakbulk, heavy lift and project cargoes liner services and individual sailings complementing the liner services.  

Press enquiries:

Kirchhoff Consult AG
Sebastian Bucher
T: +49 (0)40 60 91 86 18 
F: +49 (0)40 60 91 86 60
E: sebastian.bucher@kirchhoff.de

Bond hotline:

T: +49 (0)40 609 411 422 (Mondays to Fridays 9 am to 6 pm)
E: anleihe@rickmers.com 

Disclaimer

This press release does not constitute an offer to sell nor an invitation for an offer to buy or subscribe for any securities of Rickmers Holding GmbH & Cie. KG. The public offering of the notes in the Federal Republic of Germany, the Republic of Austria and the Grand Duchy of Luxembourg which was made exclusively on the basis of a prospectus approved by the Luxembourg securities and markets authority (Commission de Surveillance du Secteur Financier- CSSF) on 14 May 2013 with notification issued to the German Financial Services Regulatory Authority (BaFin) and Austrian Financial Market Authority (FMA) and available on the company's website at www.rickmers.com (> Investor Relations > Bond) and from the company's head office (Neumühlen 19, 22763 Hamburg), has been closed. 

This press release and the information contained therein may not be distributed, directly or indirectly, in or into the United States of America, Canada, Australia or Japan or in any other jurisdiction, in which such distribution is not allowed. Any infringement of this limitation can be a breach of securities law regulations of these countries.

This press release contains forward-looking statements. Forward-looking statements include all statement that do not describe past details, but concepts such as 'believe', 'assume', 'expect', 'suppose', 'estimate', 'plan', 'intend', 'could' or similar formulations. These forward-looking statements are subject to natural risks and imponderables that refer to future results and to present-day assumptions and estimates of Rickmers Holding GmbH & Cie. KG that might never occur in the future, or not as supposed. They do not represent any guarantee of the occurrence of future results or services of Rickmers Holding GmbH & Cie. KG and the actual financial situation and the actually achieved results of Rickmers Holding GmbH & Cie. KG, such as the overall economic development and the legal framework, can vary considerably from expectations explicitly or implicitly expressed in future-looking statements and may not fulfil these. . Rickmers Holding GmbH & Cie. KG is not responsible for updating or correcting forward-looking statements expressed here or to adjust forward-looking statements to future results or developments.