Published 2020-06-21 00:00:00
MPC Container Ships Invest summons to bondholders’ meeting

Oslo/Rhoon, 19 June 2020 – MPC Container Ships Invest B.V., a wholly-owned subsidiary of MPC Container Ships ASA, has requested Nordic Trustee AS as Bond Trustee and Security Agent to summon to a bondholders’ meeting for 3 July 2020 in respect of its USD 200,000,000 senior secured bond issue, MPCBV01 – ISIN NO 0010805872 (the "Bond"), in the context of proposing certain amendments to the terms of the Bond, as set out in the attached copy of the summons and presentation prepared in connection with the bondholders' meeting.

About MPC Container Ships Invest B.V.:

MPC Container Ships Invest B.V. was formed in September 2017 as a wholly-owned subsidiary of MPC Container Ships ASA. The company’s main activity is to own and operate a portfolio of container ships with a focus on the feeder segment between 1,000 and 3,000 TEU. On 14 June 2018, MPC Container Ships Invest B.V. listed its USD 200 million senior secured bond with ISIN NO0010805872 on the Oslo Stock Exchange (ticker code "MPCBV").

The background for the proposed amendments to the terms of the Bond is the adverse impact on the MPCC group's liquidity which the COVID-19 pandemic has had, and continues to have, by causing significantly reduced charter rates and utilisation of the group's fleet due to lower containerized freight volumes.

DNB Markets, a part of DNB Bank ASA, and Pareto Securities AS have been appointed as financial advisors to MPC Container Ships ASA and MPC Container Ships Invest B.V.

© 2014 Shipping Publications as   Phone +47 331 81180   info@shipping-publ.no