Dockwise misses out on buyback target

Heavy-lifting services company Dockwise received a poor reception to its debt buy-back offer this week as the recent rally in loan prices made it difficult for the firm to achieve the steep discount that would have been available earlier in the year.

  • 17 Jun 2009

Dockwise bought back only $8.5m of its first lien debt at an average price of 79.93%, after initially setting out to purchase up to $50m of its senior facilities.

“The price achieved is actually good, but the volume isn’t as high as we expected,” said a banker on ...

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