UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
____________________
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE
OF REPORT: APRIL 30, 2008
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.
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Form
20-F x
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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):
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Yes
o
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No
x
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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):
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Yes
o
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No
x
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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.
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Yes
o
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No
x
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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 April 30, 2008.
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.
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CAPITAL
PRODUCT PARTNERS L.P.,
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By:
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Capital
GP L.L.C., its general partner
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| /s/ Ioannis E. Lazaridis | |||
| Name: Ioannis E. Lazaridis | |||
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Title:
Chief Executive Officer and
Chief
Financial Officer of Capital GP L.L.C.
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Dated: April
30, 2008
Exhibit
I
CAPITAL
PRODUCT PARTNERS L.P. COMPLETES ACQUISITION OF M/T ARISTOFANIS
ATHENS, Greece, Apr
30, 2008 -- Capital Product Partners L.P. (Nasdaq:CPLP) announced today that it
has completed the acquisition of the M/T Aristofanis, a 12,000 dwt double-hull
product tanker, from Capital Maritime & Trading Corp., the owner of its
general partner, for $23 million.
The M/T Aristofanis
is chartered to Shell International Trading & Shipping Company Ltd. under a
charter expected to expire at the earliest in March 2010, at a gross rate of
$13,250 per day (net rate $12,952). The M/T Aristofanis is a sister vessel to
the M/T Attikos, which was acquired by the Partnership in September 2007.
Operating expenses for the M/T Aristofanis are fixed for the next five years at
a daily rate of $5,500 and include the expenses for its next special survey
expected to take place in 2010.
The acquisition was
partly funded with $11.5 million borrowed under the Partnership's new $350
million credit facility. The remainder of the purchase price was funded through
the issuance of 501,308 Partnership common units to Capital Maritime at a price
of $22.94 per unit, the weighted average unit price for the period from October
15, 2007 to February 15, 2008.
The terms of the
transaction were unanimously approved by Capital Product Partners' Board of
Directors following the unanimous approval and recommendation of the Board's
conflicts committee, which is comprised entirely of independent directors. The
conflicts committee engaged Fortis Securities LLC to act as financial advisor
and to render a fairness opinion and Akin Gump Strauss Hauer & Feld LLP to
act as legal advisor.
Ioannis Lazaridis,
Chief Executive and Chief Financial Officer of Capital Product Partners' general
partner, said, "We are delighted to complete our third non-contracted
acquisition from Capital Maritime, consistent with our strategy to grow through
accretive acquisitions, and to add Shell to our customer list."
Following the
acquisition of the M/T Aristofanis and the completion of the transactions
associated with maintaining the ownership interest of Capital GP LLC, the
Partnership’s general partner, Capital Maritime & Trading Corp. owns a 46.6%
interest in the Partnership, including a 2% interest through its ownership of
the general partner. The outstanding number of Partnership units currently
stands at 25,323,623, of which 16,011,629 are common units, 8,805,522 are
subordinated units and 506,472 are general partner units.
About
Capital Product Partners L.P.
Capital Product
Partners L.P. (Nasdaq:CPLP), a Marshall Islands master limited partnership, is
an international owner of modern double-hull tankers. Following the acquisition
of the M/T Aristofanis, Capital Product Partners L.P. owns 16 vessels, including
13 modern MR tankers, two small product tankers and one Suezmax crude oil
tanker and has
agreements to purchase two additional product tankers from Capital Maritime
& Trading Corp. All 18 vessels are under medium to long-term charters to BP
Shipping Limited, Morgan Stanley Capital Group Inc., Overseas Shipholding Group,
Shell International Trading & Shipping Company Ltd., and Trafigura Beheer
B.V.
Forward
Looking Statement:
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 stated or forecasted results to be materially
different from those anticipated. Unless required by law, we expressly disclaim
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, to conform them to actual results or otherwise. We assume no
responsibility for the accuracy and completeness of the forward-looking
statements. We make no prediction or statement about the performance of our
common units.
CPLP-G
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CONTACTS:
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Capital GP
L.L.C.
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Ioannis
Lazaridis, Chief Executive Officer and
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Chief
Financial Officer
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+30 (210)
4584 950
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i.lazaridis@capitalpplp.com
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Capital
Maritime & Trading Corp.
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Merete
Serck-Hanssen, SVP Finance
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+1 (203)
539-6273
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m.serckhanssen@capitalmaritime.com
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RF Binder
Partners Inc.
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Robert
Ferris
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+1 (212)
994-7505
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Robert.ferris@rfbinder.com
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