SCHNIGGE Wants to Buy Rickmers Holding Bonds

Jan 12, 2018

Financially-troubled maritime services provider Rickmers Holding has received an offer from Germany’s securities trading bank SCHNIGGE Wertpapierhandelsbank SE related to the company’s bonds.

Specifically, the bank submitted a voluntary tender offer to buy up to EUR 35.5 million (USD 42.4 million) bonds of 8.875% Rickmers Holding at a price of 2% flat for each bond with EUR 1,000 nominal value.

As informed, the bonds are currently traded on the stock market. The stock market price is 2.55% flat.

SCHNIGGE made a tender offer to bondholders of Rickmers Holding on January 5, 2018. The offer will end on January 31, 2018.

In May 2017, the bank already made a tender offer to acquire Rickmers Holding bonds.

Rickmers Holding filed for insolvency in June 2017 after HSH Nordbank AG rejected further negotiations on the restructuring.

However, the company was allowed to continue its business after Zeaborn Group and Bertram Rickmers took over its global ship management activities.

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