The company recently bought eight container ships from the Hyundai Shipyards in Korea. 4 of 8,200 TEU's, and 4 of 10,000 TEU's. The deal is worth $1 billion
Israel Corp. (IC) announced that Zim Integrated Shipping services Ltd. completed last week a NIS 490m private placement of consumer prices index (CPI) linked bonds.
The bonds, according to the announcement, are interest linked to the CPI and bear annual interest of 5.45%. Maalot The Israel Rating Co. Ltd. rated the bonds as A+. The bonds are redeemable in three equal payments in 2013-2015.
Zim Shipping is ranked 15th worldwide, among shipping companies, by size. The company owns 98 vessels with total container capacity of TEU 233,000 .
The company recently bought eight container ships from the Hyundai Shipyards in Korea. 4 of 8,200 TEU's, and 4 of 10,000 TEU's. Zim will take delivery of the ships during the second half of 2009.
The deal is worth $1 billion. Israel Corporation announced that the deal would be financed by the company’s existing capital, following the bond issue of last year. It will also consider the option of selling the ships and leasing them back.
These new-generation ships will join Zim's fleet in the coming years and will enable Zim to upgrade services, decrease transit times to various destinations and expand the company's deployment of shipping lines between Asia, America and Europe.
