Russia’s Fesco Group has fixed a new loan to meet bond buy-back obligations.
The containership owner said a new facility had been entered into with an international bank to allow it to partly finance a tender offer for its $550m 8% senior notes due in 2018 and the $325m issue maturing in 2020.
“As part of the refinancing, the notes that were transferred to the international bank under the repurchase agreement have been re-transferred to the Fesco Group and will be used to secure the refinancing loan,” it said.
Fesco
