Mariner Finance plc - ‘COVID-19’ Market Update

On 7 April 2020, Mariner Finance plc issued an announcement explaining that despite the ‘COVID-19’ pandemic, its financial position and resources remain strong and that it is committed to honour all existing payment obligations towards bondholders including the forthcoming interest payment due on 3 July. Although forecasts cannot be accurately computed, Mariner added that it has significant liquid reserves which will assist it during the slowdown in the international logistics chain. Moreover, it has a number of discretionary cash outflows, such as uncommitted, non-essential capital expenditure, which the company has at its disposal to adjust as necessary. As a key node in the international logistics chain, Mariner’s container terminal in Latvia is well-positioned to continue to be a long-term sustainable business.

Comments are closed.