Containerships says holders put €11.4 million secured bonds due 2021

By Susanna Moon

Chicago, Feb. 1 – Containerships plc said holders exercised the put option on €11.4 million, or 19%, of its €60 million senior secured bonds due 2021.

The notes were set to be repurchased on Feb. 1 at a price of 101% of par plus accrued interest.

The notes were putable because of the change of control that occurred when the company merged with CMA CGM’s intra-regional market offering in the Europe and Mediterranean area, according to a notice.

The deadline for exercising the change-of-control put option was Jan. 4.

The container shipping company is based in Helsinki, Finland.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.