UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
____________________
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15-d16
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE
OF REPORT: SEPTEMBER 12, 2007
Commission
File Number 001-33373
____________________
CAPITAL
PRODUCT PARTNERS L.P.
(Translation
of registrant’s name into English)
____________________
3
IASSONOS STREET
PIRAEUS,
18537 GREECE
(address
of principal executive offices)
____________________
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form
20-F
x Form
40-F o
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1):
Yes o No
x
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7):
Yes o No
x
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission
pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes o No
x
If
“yes”
is marked, indicate below this file number assigned to the registrant in
connection with Rule 12g3-2(b): N/A
Item
1 – Information Contained in this Form 6-K Report
Attached
as Exhibit I is a copy of a press release of Capital Product Partners L.P.,
dated September 12, 2007.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
CAPITAL
PRODUCT PARTNERS L.P.,
|
|
|
By:
|
Capital
GP L.L.C., its general partner
|
| /s/ Ioannis E. Lazaridis | |
|
Name: Ioannis
E. Lazaridis
|
|
|
Title: Chief
Executive Officer and Chief Financial Officer
of
Capital GP L.L.C.
|
|
Dated: September
12, 2007
Exhibit
I
CAPITAL
PRODUCT PARTNERS L.P. ANNOUNCES INTENTION TO ACQUIRE
PRODUCT
TANKER M/T ATTIKOS
ATHENS,
Greece, September 12, 2007 -- Capital Product Partners L.P. (Nasdaq: CPLP
-
News) announced today that the company has signed a non-binding letter
of intent
to acquire the 12,000dwt double hull product tanker M/T Attikos, built
in 2005,
for an aggregate proposed purchase price of US$23 million from Capital
Maritime
& Trading Corp, the owner of its general partner. M/T Attikos is
chartered to Trafigura Beheer B.V., a large commodities trader based in
The
Netherlands with a remaining charter term of approximately 24 to 26 months
at
the gross rate of US$13,850 per day (net rate US$13,503). The operating
expenses
will be fixed for the next 5 years at a daily rate of US$5,500, which includes
the special survey/dry docking of the vessel due in 2010. Capital
Product Partners expects the annual contribution associated with the acquisition
of M/T Attikos to the distributable cash flow to be approximately 4 cents
per
unit. The acquisition of M/T Attikos is subject to the execution of definitive
agreements, the satisfaction of customary conditions to closing and approval
by
the conflicts committee and the Board of Directors of Capital Product
Partners. The company intends to fund the acquisition by borrowing
US$20.5 million under its existing revolving credit facility and the remaining
US$2.5 million from available cash.
“We
are
pleased that Capital Product Partners is in the process of completing its
first
accretive acquisition 5 months after its initial public offering”, stated
Ioannis Lazaridis, the Chief Executive Officer and Chief Financial Officer
of
Capital Product Partners’ general partner. “We are also very excited about the
acquisition of M/T Attikos as it establishes the Partnership’s presence in the
“small product tanker” segment, which we believe to be well supported by
favourable industry fundamentals. The Partnership is well positioned to
grow
further in this segment, as Capital Maritime, the parent of our GP, currently
owns an additional 12 small product tankers, one of which is currently
in the
water and 11 of which are under construction and expected to be delivered
in
2008 and 2009.”
Vessel
and Charter Details
|
Name
|
Deadweight
|
Built
|
Charterer
|
Net
Daily Charter Rate
|
OPEX
|
Profit
Sharing
|
Earliest
Redelivery under Charter
|
Latest
Redelivery under Charter
|
|
M/T
Attikos
|
12,000
MT
|
Baima
Shipyard, China
|
Trafigura
Beheer B.V.
|
US$13,503
|
US$
5,500 per day fixed for 5 years
|
No
|
12/9/2009
|
12/11/2009
|
About
Capital Product Partners L.P.
Capital
Product Partners L.P. (Nasdaq: CPLP - News), a Marshall Islands master limited
partnership, is an international owner of medium-range product tankers.
Following the intended acquisition of the M/T Attikos, Capital Product Partners
L.P. will own eleven product tankers including Ice Class 1A MR tankers and
has
an agreement to purchase five additional product tankers from Capital Maritime
& Trading Corp. All sixteen vessels are under medium to long-term charters
to BP Shipping Limited, Morgan Stanley, Overseas Shipholding Group Inc and
Trafigura Beheer B.V.
Forward-Looking
Statements
The
statements in this press release that are not historical facts may be
forward-looking statements (as such term is defined in Section 21E of the
Securities Exchange Act of 1934, as amended). These forward-looking statements
involve risks and uncertainties that could cause the outcome to be materially
different. Capital Product Partners L.P. expressly disclaims any obligation
to
update or revise any of these forward-looking statements, whether because of
future events, new information, a change in our views or expectations, or
otherwise. We make no prediction or statement about the performance of our
common units.
Contacts:
Robert
Ferris
RF|Binder
Partners Inc.
+1
(212) 994-7505
Robert.ferris@rfbinder.com
Ioannis
Lazaridis
Chief
Executive Officer and Chief Financial Officer
Capital
GP L.L.C.
+30
(210) 4584 950
i.lazaridis@capitalpplp.com
Jerry
Kalogiratos
Commercial
Officer
Capital
Maritime & Trading Corp.
+30
(210) 4584 950
j.kalogiratos@capitalmaritime.com