The trustee manager of Singapore-listed Rickmers Maritime announced Monday it has satisfied conditions put on it by a creditor syndicate after the boxship operator failed to meet loan covenants back in 2010.
Rickmers Trust Management said that its continued debt payments allow the lifting of restrictions put on it by three syndicates of lending banks. The restrictions stemmed from a debt restructuring that started when falling vessel values affected Rickmers value-to-loan covenants five years ago.
The
