The Singapore-listed shipping trust raised SGD101.7m ($81.5m) from the one-for-one rights issue priced at SGD0.24 per share.
“The exceptionally strong response reflects confidence in the long-term growth potential of Rickmers Maritime. The successful completion of the rights issue will strengthen our balance sheet, safeguard our low interest margins and allows us to continue our regular distributions to unitholders,” said Thomas Preben Hansen, ceo of Rickmers Maritime. “We have herewith begun the process of positioning the trust to take advantage of opportunities in the market to re-ignite the Rickmers Maritime growth strategy.”
In connection with the rights issue Rickmers Maritime has secured an extension on its loan-to-value covenant waivers with lenders until 29 December 2014.
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