RSS Content
| Dockwise buys back debt |
| Dec 17, 2009 (Hugin via COMTEX) -- Breda, the Netherlands, 17 December 2009. Dockwise Ltd. today announces that the
debt buyback auction has closed in the afternoon of 15(th) December 2009. The
company has allocated USD 125 million of free surplus cash on the balance sheet
following the capital raise in November last to make debt repurchases. It had
invited holders of Senior and Second Lien facilities to submit offers to sell
all or part of their debt at a discount to the company. The reverse Dutch
auction as well as bilateral trades in Q4 2009 drew strong support from the
market. A total of approx USD 125 million of Senior and Second Lien debt was
bought back at prices of 96.0 to 97.0 and 95.0 respectively. Total net result
for Dockwise of this buy back transaction is more than USD 3 million.
Dockwise reserves the right to continue to purchase floating rate Senior and Second Lien debt on a bi-lateral basis. RBSacted as purchasing agent for the process Further information: Fons van Lith +31 76 5484116/+31 651 314 952 Fons.van.lith@dockwise.com About Dockwise Ltd / Dockwise Group Dockwise Ltd., a Bermuda incorporated, has a workforce of more than 1200 people both offshore and onshore. The company is the leading marine contractor providing total transport services to the offshore, onshore and yachting industries as well as installation services of extremely heavy offshore platforms. The Group is headquartered in Breda, The Netherlands. The Group's main commercial offices are located in The Netherlands, the United States, China, Korea, Australia, Brasil, Moscow, Singapore and Nigeria. The Dockwise Yacht Transport business unit is headquartered in Fort Lauderdale and has an office in Italy. The Dockwise Shipping network is supported by agents in Japan, Singapore, Spain, Norway, Argentina and Italy. To support all of its services to customers, the group also has three additional engineering centers in Houston, Breda and Shenzhen, manufactures specific motion reduction equipment such as LMU (Leg Mating Units) and DMU (Deck Mating Units) and owns a fleet of 20 purpose built semi-submersible vessels. Dockwise shares are listed on the Oslo Stock Exchange under ticker DOCK (ISIN BMG2786A1062) as well as on NYSE Euronext Amsterdam under the ticker DOCKW (ISIN BMG2786A2052). For further information: www.dockwise.com <http://www.dockwise.com/> This information is subject of the disclosure requirements acc. to 5-12 vphl (Norwegian Securities Trading Act) [HUG#1363574] SOURCE: Dockwise Ltd |