ZIM Announces Notice of Transaction Entered Into and of Partial Redemption of Series 1A and Series 1B Notes

HAIFA, Israel, September 29, 2015 /PRNewswire/ --

In accordance with the provisions of Section 4.03 of an Indenture entered into between ZIM Integrated Shipping Services Ltd. (IL0065100443) (the "Company") and Hermetic Trust (1975) Ltd. (the "Trustee") on July 16, 2014 (the "Indenture"), the Company hereby notifies that it has completed the sale of all of its minority shares in a company that operates a terminal in north Europe to certain other shareholders in the terminal for Eligible Proceeds (as such term is defined in the Indenture) of €21.09 million ($23.72 million) (the "Transaction").  

In accordance with the provisions of Sections 3.07 and 4.10(a)(3) of the Indenture, the Company is required to use 50% of the Eligible Proceeds (as defined in the Indenture) for the redemption of its Series 1A Notes (ISIN: IL0065100443) and Series 1B Notes (ISIN: IL0065100773) (collectively, the "Notes"). No representation is made as to the correctness or accuracy of the ISIN listed in this notice. The following are details regarding the partial redemption of the Notes:

In accordance with the terms of the Indenture, the redemption date will be on December 20, 2015, the next interest payment date, and the record date for such redemption date will be on December 8, 2015. It is noted that since December 20, 2015 is not a Business Day, as such term is defined in the Indenture, the payment will be postponed to the next succeeding Business Day, December 21, 2015 (without accruing interest for such postponement).

On the redemption date, the Company will pay $11,723,190 to the holders of Series 1A Notes who held the notes on the record date out of which $11,635,921 will be paid as redemption of principal amount of Series 1A Notes (approximately 3.2% of the existing principal) and $87,269 will be paid as interest on such Series 1A Notes (0.75% on the redeemed principal) for the quarterly interest period ending on the redemption date. Accordingly, following the partial redemption as aforesaid, the principal amount of Series 1A Notes will be $355,675,658.

Similarly, on the redemption date, the Company will pay $136,229 to the holders of Series 1B Notes who held the notes on the record date out of which $135,215 will be paid as redemption of principal amount of Series 1B Notes (approximately 3.2% of the existing principal) and $1,014 will be paid as interest on such Series 1B Notes (0.75% on the redeemed principal) for the quarterly interest period ending on the redemption date. Accordingly, following the partial redemption as aforesaid, the principal amount of Series 1B Notes will be $4,133,113.

Contact:
Maor Aharoni
[email protected]
+972-3-511-5207

SOURCE ZIM Integrated Shipping Services Ltd.