TOP Ships Terminates Int. Rate Derivative Contract

Friday, January 02, 2009

TOP Ships Inc. (NASDAQ: TOPS) announced that it has entered into a termination agreement in respect of an interest rate derivative contract for a termination payment of $5m.
TOP Ships had entered into this derivative contract in November 2007, under which the company has received an upfront payment of $8.5m and would pay five annual interest payments on a notional amount of $85m. The counterparty's assets and liabilities have been under bankruptcy administration since September 15, 2008.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Australia, Japan Partner for Hydrodynamics Research

Australia and Japan have signed a cooperative research arrangement on marine hydrodynamics, the Chief Defence Scientist, Dr Alex Zelinsky, announced today.   “This

Cathelco Supply Equipment for Keppel Projects in Singapore

Press release -Cathelco have won orders to supply equipment for two projects which are being undertaken by Keppel yards in Singapore. The first is to provide marine

Damen Crane Barge and Anti-Pollution Barge Delivered

Damen Shipyards Sharjah has delivered two barges, a Crane Barge 4920 and an Anti-Pollution Barge 2405, to BINCO, a contractor in the Middle East with over 30 years

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Simulators Shipbuilding / Vessel Construction
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: 0.0542 sec (18 req/sec)