For immediate release RICKMERS MARITIME SEALS US$627.5 MILLION CREDIT FACILITIES DEAL WITH LEADING BANKS • US$497.5 million of secured term loans and revolving credit facilities • US$130.0 million top-up facility on existing credit facility • Provides flexible funding for a significant portion of growth in 2008 and 2009 Singapore, 9 April 2008 – Rickmers Trust Management Pte. Ltd. (RTM), trustee- manager of Rickmers Maritime (the “Trustee-Manager”), is pleased to announce that it has secured1 new credit facilities amounting to US$627.5 million with leading international banks, amidst a demanding credit environment. Rickmers Maritime will benefit from attractive interest rates, which range from 0.95% to 1.20% above US$ LIBOR per annum. A significant portion of the credit facilities will be hedged thereby fixing its future cost of debt financing. In the current low interest rate environment, the overall cost of these credit facilities will be lower than that which was secured for the existing facility. The three new credit facilities, amounting to US$497.5 million, have been secured with the following banks: • BNP Paribas as lead bank together with Fortis, HSBC, ING, and Scotia Bank • Nordea • Commerzbank In addition, Rickmers Maritime has arranged for a US$130.0 million top-up facility on its existing IPO credit facility, with HSH Nordbank, DBS and Citibank. 1 Subject to final documentation With US$45.0 million of this existing facility undrawn, these new credit facilities will increase Rickmers Maritime’s available debt financing in place to approximately US$672.5 million, which will be used to partly finance the nine previously announced 4,250 TEU panamax containerships due to be delivered in 2008 and 2009. Mr. Thomas Preben Hansen, Chief Executive Officer of the Trustee-Manager, stated, “We are extremely satisfied with the result of our debt raising exercise. It clearly demonstrates to our Unitholders our capability to source competitive financing with some of the world’s leading banks to fund our growth strategy. Despite the challenging financial environment, we have now proven to our investors as well as our clients that the credibility of Rickmers Maritime is as strong in global financial markets as it is in the shipping market. With the comfort this brings to our investors and clients, we can look forward to pursuing growth opportunities ahead without having to tap the equity market in the near future.” Mr. Quah Ban Huat, Chief Financial Officer of the Trustee-Manager, commented, “We are very pleased to have secured our new credit facilities. We believe that the credit facilities secured underscore the level of confidence bankers have in the structure and the creditworthiness of Rickmers Maritime, which is supported by the underlying long- term, fixed-rate charters to leading container liner shipping companies. Our current gearing ratio of approximately 42% is rather conservative in structures such as ours. With these credit facilities in place, our initial new deliveries are fully funded and the cost of financing for our new fleet will be lower than that for the existing fleet.” After signing conditional memoranda of agreement to acquire 13 vessels, Rickmers Maritime will grow its fleet to 23 vessels from its initial contracted fleet of 10 containerships, bringing its aggregate capacity to 131,560 TEU over the next three years. Citigroup Global Markets Singapore Pte. Ltd. and Deutsche Bank AG, Singapore Branch are the Joint Global Co-ordinators and Joint Bookrunners of the initial public offering in Rickmers Maritime and DBS Bank Ltd is the Joint Lead Manager and Co-ordinator of the Singapore Public Offer. End For more details, please contact Mr Quah Ban Huat Chief Financial Officer Tel: (65) 6506 6950 firstname.lastname@example.org Rickmers Maritime (Bloomberg: RMT SP) Rickmers Maritime is a Singapore business trust, formed with the objective of owning and operating containerships under long-term, fixed rate charters to container liner shipping companies. Rickmers Maritime's asset portfolio consists of a fleet of 23 containerships, including 13 containerships, as announced on 19 March 2008 which Rickmers Maritime has signed conditional memoranda of agreement to acquire. These vessels, ranging between 3,450 TEU and 13,100 TEU, will have, on delivery to Rickmers Maritime, long-term, fixed-rate time charters in place, allowing Rickmers Maritime to maintain stable operating cash flows and high utilisation rates. Managed by Rickmers Trust Management Pte. Ltd., Rickmers Maritime aims to provide its Unitholders with regular quarterly cash distributions, while reinvesting a portion of its operating cash flow, to ensure long-term growth and sustainability of the Rickmers Maritime. Rickmers Maritime also intends to grow its fleet through accretive acquisitions in order to increase distributable cash flow per Unit.
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