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BRIEF-Rickmers Trust Management entered into deed of consent with Commerzbank AG
December 9, 2016 / 11:38 AM / 9 months ago

BRIEF-Rickmers Trust Management entered into deed of consent with Commerzbank AG

Dec 9 (Reuters) - Rickmers Trust Management Pte. Ltd.

* Has entered into a deed of consent with Commerzbank AG, Singapore Branch

* Trustee-Manager has entered into a memorandum of agreement for sale of “India Rickmers” vessel securing CMB facility

* Deed in relation to a settlement of senior loan facilities extended by CMB to a subsidiary of trust

* CMB has agreed to waive repayment of a material portion of remaining debt owed under CMB facility following partial prepayment

* “sale is not expected to lead to material loss in q4 of 2016”

* Net proceeds from sale will be applied towards partial prepayment of cmb facility Source text for Eikon: Further company coverage:

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