Far Eastern Shipping Company
Far Eastern Shipping Company: FESCO announces refinancing of REPO loan
Far Eastern Shipping Company / Key word(s): Miscellaneous December 18, 2013 FESCO announces refinancing of REPO loan On December 12, 2013, FESCO Transportation Group (MOEX: FESH) successfully completed the refinancing of the $149 million margin loan incurred by Halimeda International Limited (‘REPO facility’). The REPO facility was refinanced by a new $150 million loan, which is secured against TransContainer shares, corresponding to a 24.1% stake in TransContainer. The loan has no recourse to members of the restricted group as per terms and conditions of Senior Secured Notes. About FESCO FESCO is one of the leading privately-owned transportation and logistics companies in Russia with operations in ports, rail, integrated logistics and shipping business. Diversified but integrated asset portfolio enables FESCO to provide door-to-door logistics solutions and control almost all steps of the intermodal transportation value chain. The majority of FESCO’s operations are located in the Russian Far East and the Group benefits from growing trade volumes between Russia and Asian countries. FESCO controls the Commercial Port of Vladivostok, which has throughput capacity of 3.9 million tons for general cargo and oil products, 150,000 vehicles and over 600,000 TEUs in containers. FESCO is one of Russia’s top 10 private railcar operators providing services under the Transgarant (100%) and Russkaya Troika (50% JV with Russian Railways) brands. The Group owns a fleet of vessels mostly deployed through own line and logistics operations. In 2012, revenue of FESCO Group reached USD 1,197 million. End of Corporate News 18.12.2013 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. EquityStory.RS, LLC’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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