
A second public offering, this time of 100-million-euro worth of senior unsecured bonds by CPLP Shipping Holdings PLC – a wholly owned subsidiary of the Capital Product Partners L.P. group – generated impressive demand by Greek investors on Friday, as the issue was oversubscribed 3.6 times, and with offers reaching 359.49 million euro.
The final yield was set at 4.40 percent, and the interest rate at 4.40 percent annually. The bonds will be admitted to trading in the category of fixed income securities of the regulated market of the Athens Stock Exchange (ASE), and will be guaranteed by CPLP. The net proceeds of the offering are intended to be used for vessel acquisitions, debt repayment and working capital purposes. The bonds have not been, and will not be, registered under the Securities Act of 1933, as amended or the securities laws of any U.S. state or other jurisdiction other than Greece and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and any other applicable securities laws. The total public offering was of 100,000 bonds of a nominal value of 1,000 euro each, with a minimum subscription amount of 1,000 euro and a total duration of seven years. The issuer has the option of early repayment, part or all of the common bond loan, after the expiration of the second year, and after the end of each interest period. The issue of the common bond loan supports Capital Group’s investment program for a strategic transition to “green shipping” and the strengthening of its footprint on the global shipping market, via a modern and top-specification fleet that is continually growing.

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