Subscribe to RSS feedHeavy-lift ship group Dockwise sees rise in discounted buy-backs
by
Tony Gray
—
last modified
Oct 15, 2009 03:04 PM
DOCKWISE says more companies will attempt to buy-back their debt at a discount, even though there was a low take-up of the heavylift shipping group’s own offer to acquire its syndicated borrowings.
Oslo-listed Dockwise said it had acquired US$8.5m of floating rate first lien debt at an average price of US$73.93 per US$100 for a total outlay of about US$6.2m.
However, the buy-back payout is substantially below the US$50m Dockwise said...
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