Rickmers Maritime working on new restructuring proposal

Rickmers Maritime has received word from HSH Nordbank that the bank may be willing to forgive debt if noteholders agree to a similar move. This development means that Rickmers Maritime is now putting together a new restructuring proposal.

Photo: PR-foto/Rickmers Maritime

The senior lender to struggling Rickmers Maritime, HSH Nordbank, has now indicated to the company that the bank could be prepared to forgive debt related to the company's bank loan, if Rickmers Maritime is able to ensure similar, significant debt forgiveness from other bondholders, informs the company in a stock exchange filing.

Rickmers Maritime informs that HSH Nordbank also sets a requirement that the company must raise additional capital, and notes that a restructuring would be better than a rehabilitation from a winding down of the company, and that the restructuring of the company's debt is not damaged by claims from other creditors in the company.

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