Stock release
Inside information 29 March 2019
CONTAINERSHIPS PLC EARLY FULL REDEMPTION OF 60,000,000 SENIOR SECURED FLOATING RATE BONDS DUE 2021; CONTAINERSHIPS PLC AND MACANDREWS GMBH TO COMBINE THEIR SEA LINE BUSINESSES
Containerships plc (the “Issuer” or “Containerships”) hereby announces that it will redeem its EUR 60,000,000 bonds due 2021 with ISIN FI4000292172 (the "Bonds") on 6 May 2019 (the "Redemption Date"), in accordance with Clause 9.3 of the Terms and Conditions of the Bonds dated 21 November 2017 (the "Terms and Conditions"). Notice of the redemption of the Bonds will be sent to bondholders on 29 March 2019.
The Bonds will be redeemed at the Make Whole Amount, as defined in the Terms and Conditions, which is 106.513 per cent of the Outstanding Nominal Amount, added with accrued but unpaid Interest (together the "Redemption Amount"). The Redemption Amount will be paid to each Bondholder who is registered with Euroclear Finland Ltd as a holder of Bonds on the record date, which is 3 May 2019. An application will be made to delist the Bonds from Nasdaq Helsinki.
The redemption of the Bonds relates to the reorganization of the CMA CGM Group with the aim of combining the short sea line businesses of Containerships and MacAndrews GmbH through a series of corporate operations, including a merger of Container Finance Ltd Oy into Containerships, a partial de-merger of the current land and agency businesses of Containerships and finally a cross border merger of Containerships into MacAndrews GmbH which will be re-named Containerships – CMA CGM GmbH as from 1st of April 2019. The whole reorganization is scheduled to complete during the last quarter of 2019.
About the Issuer:
Acquired by the CMA CGM Group in 2018, a world leader in shipping and logistics, Containerships is a specialist in intra-Europe for logistics services related to containerized cargo. Containerships offers its customers a complete range of very high-quality services as well as logistics solutions for all modes of transportation (ships, trucks, trains and barges) and is present in the Baltic markets, Russia, Northern Europe, North Africa and Turkey.
MacAndrews GmbH (re-named Containerships – CMA CGM GmbH as from 1st of April 2019), which joined the CMA CGM Group in 2002, also offers a complete range of quality rail, road and maritime transport services and is a specialist of container transport on Intra-European routes. It mainly connects North and Central Europe with the Iberian Peninsula, the Canary Islands and Morocco.
On 17 January 2019 CMA CGM announced that it will combine its Containerships and MacAndrews brands under the single Containerships brand, effective from 1 April 2019, to create and develop an Intra-European leading brand, combining unique maritime and inland solutions with complementary regional presence.
For further information, please contact: Claude Lebel, CEO, Containerships plc +491719460600, hbg.clebel@containerships.eu