ZIM announces completion of the full early redemption of its Series 1 and Series 2 notes

ZIM President & CEO Eli Glickman: “a landmark achievement and a further indication of the strengthening of the company’s financial position”

ZIM Integrated Shipping Services Ltd., announced today the full completion of the early redemption of 100% of the principal amount and accrued interest of its Series 1 and 100% Series 2 unsecured notes, originally due in June 2023. The move, announced in April 2021, is a result of ZIM’s continued strong cash flow generation.

In a modest ceremony held at ZIM’s Head Office on the designated date, June 21, 2021, President & CEO Eli Glickman digitally completed the official payment of $351.6 million, comprising of $349 million principal amount of Series 1 and 2 Notes and $2.6 million of accrued interest and accumulated PIK interest.

Eli Glickman, ZIM President & CEO, said: “The early payment of these notes is a landmark achievement and further proof of ZIM’s significantly improved financial position. We remain focused on execution to fully leverage the favorable market conditions for the benefit of our shareholders”.