Containerships plc - Stock Exchange Release 1 February 2019 at 12:00 (EET)
Notice of Repurchase of Bonds
This notice is made in respect of the EUR 60 million senior secured bonds due 2021 issued by Containerships plc.
The combination agreement between Container Finance Ltd Oy and CMA CGM was closed on 31.10.2018. Upon closing the agreement, Containerships plc, will integrate CMA CGM’s intra-regional market offering in Europe and Mediterranean area. As result, bondholders could require the repurchase of the Bonds they held as provided in the terms and conditions of the Bonds.
The deadline for bondholders to require the repurchase of their Bonds was January 4, 2019. By the deadline, Containerships plc received Bonds representing an aggregate nominal principal amount of 11.4 million, which represents approximately 19 per cent of the aggregate nominal principal amount of all the Bonds.
Containerships plc will, on the repurchase date of February 1, 2019, in accordance with the terms of the Bonds upon a Change of Control Put option, pay 101 per cent of the nominal amount of the Bonds to be repurchased, together with the accrued and unpaid interest.
Further information:
Containerships plc
CEO, Kari-Pekka Laaksonen
tel. +358 50 5502555, kari-pekka.laaksonen (at) containerships.fi
Distribution:
NASDAQ OMX Helsinki
www.containershipsgroup.com
About Containerships group: Containerships group is a full service, door-to-door provider of shortsea shipping and logistics solutions. It ensures safe and rapid cargo transport between Finland, Russia, the Baltic States, Continental Europe, the UK and Ireland as well as in the Mediterranean region between Turkey and North Africa. Containerships offers a choice of all standard and special containers, and complete coverage through a fleet of sea vessels, and road, railway and river container transportation modes. The net sales for 2017 was MEUR 227. Containerships plc’s senior secured callable bond loan has been listed on OMX Helsinki since 22 November 2017.