Capital Product Partners L.P. Announces Pricing of €100 Million Unsecured Bonds
The proceeds of the Bonds will be used to either repay debt or/and to finance the acquisition of new vessels and the remainder of such proceeds, if any, will be used to finance working capital needs. CPLP estimates the expenses of the offering to be approximately €3.4 million.
“We are pleased to announce the closing of our second bond offering at the Athens Exchange. The successful issue of this €100.0 million Bond on the Athens Exchange with a fixed coupon of 4.40% for a term of seven years, demonstrates the ability of the Partnership to raise incremental capital and provides us with financial flexibility in view of our vessel acquisition program in a rising interest rates environment. Importantly, the bond was issued at the low end of the yield range based on exceptionally high demand.”
The Bonds have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any
Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands master limited partnership, is an international owner of ocean-going vessels. CPLP currently owns 20 vessels, including six latest generation LNG/Cs, 10 Neo-Panamax container vessels, three Panamax container vessels and one Capesize bulk carrier vessel. This excludes one neo-panamax container vessel that CPLP has agreed to sell and was delivered to its new owner on July 6, 2022, and three 13,000TEU container vessels and one LNG/C that CPLP has agreed to acquire between the third quarter of 2022 and the second quarter of 2023.
For more information about the Partnership, please visit: www.capitalpplp.com.
The statements in this press release that are not historical facts, including among other things, the use of proceeds from the offering of the Bonds and expected deliveries of additional vessels, are 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 stated or forecasted results to be materially different from those anticipated. For a discussion of factors that could materially affect the outcome of forward-looking statements and other risks and uncertainties, see “Risk factors” in CPLP’s annual report filed with the
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Investor Relations / Media
Source: Capital Product Partners, L.P.