ZIM Integrated Shipping to redeem $3 million of 2023 notes in two series

By Rebecca Melvin

New York, April 22 – ZIM Integrated Shipping Services Ltd. said it will redeem its series 1 and 2 senior notes due 2023 in full, according to a company release.

An aggregate amount of $351.6 million, including accrued interest and accumulated PIK interest, is currently outstanding.

The redemption concerns:

• $215,283,091 outstanding principal of its series 1A notes and $1,614,623 interest payment (0.75% on the redeemed outstanding principal);

• $2,152,415 outstanding principal of its series 1B notes and $16,143 interest payment (0.75% on the redeemed outstanding principal);

• $94,659,143 outstanding principal of its series 2A notes and $14,854,111 interest payment including accumulated PIK interest (15.692% on the redeemed outstanding principal); and,

• $19,922,812 outstanding principal of series 2B notes and $3,126,329 interest payment including accumulated PIK interest (15.69221% on the redeemed outstanding principal).

ZIM is a Haifa, Israel-based operator of container ships.

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