UK P&I Announces New Terms for Hybrid Capital

MarineLink.com
Friday, June 07, 2013

The UK P&I Club announced that it has completed the consent solicitation process on its hybrid capital bond (the Capital Securities) and has agreed with bondholders to:

(a) amend the fixed interest rate payable in respect of the Capital Securities in respect of the period from (and including) August 22, 2013 to (but excluding) 22 August 2018, to 7.5;
(b) amend the floating interest rate payable in respect of the Capital Securities in respect of each interest period commencing on or after August 22, 2018, by reference to a new margin; and
(c) replace the current first call date with a new first call date of August 22, 2018.

www.ukpandi.com

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Insurance

InterManager Welcomes New Protection for Seafarers

InterManager said it welcomes the adoption of new measures to protect seafarers against abandonment. Amendments to the Maritime Labour Convention 2006, agreed

S.Korean Ferry Master Faces Investigation

The captain of the South Korean ferry that capsized off the southwest coast was facing a criminal investigation on Thursday, an official said, amid unconfirmed

South Korean Ferry Incident Update

Almost 100 ships, 18 helicopters involved in rescue; as many as 340 people from one school thought to be on board. Accident may be South Korea's biggest in 20 years.

P&I Clubs

S.Korean Ferry Master Faces Investigation

The captain of the South Korean ferry that capsized off the southwest coast was facing a criminal investigation on Thursday, an official said, amid unconfirmed

South Korean Ferry Incident Update

Almost 100 ships, 18 helicopters involved in rescue; as many as 340 people from one school thought to be on board. Accident may be South Korea's biggest in 20 years.

Ultra Deepwater Rig Towed 11,500 Miles

Fairmount Marine towed Sevan Louisiana to Curaçao Tug Fairmount Sherpa towed rig Sevan Louisiana safely from Singapore to Curaçao. During the 11,500 miles voyage via Cape of Good Hope,

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0834 sec (12 req/sec)