June 8 - Dockwise intends to utilise up to USD50 million to buy back a portion of its syndicated debt in a reverse Dutch auction to be conducted by the Royal Bank of Scotland.
Dockwise is inviting holders of the USD816.5 million floating rate first lien debt to submit offers to sell all or part of their debt at a discount, for cash, to Dockwise.
The invitation will be open until 14.00 CET on 15 June 2009, unless extended or terminated and is expected to settle on 29 June 2009.
Full terms and conditions of the invitation, including certain jurisdictional restrictions, will be provided to the lenders.
