Singapore-listed container operating trust Rickmers Maritime has said that it faces the risk of going out of business, given the uncertain outcome of its discussions with bondholders and senior lenders about restructuring its debt.
The firm said it would not be able to pay an interest of S$4.26m, which was due on November 15th, Reuters reports. It has been trying to restructure a S$100m ($71m) bond.
“In view of the uncertain outcome of the discussions with senior lenders and the adjourned noteholders’ meeting, the trust is unable to demonstrate that it is able to continue as a going concern,” Rickmers said.