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ATHENS, GREECE - March 15, 2013 - Capital Product Partners L.P. (the "Partnership") (NASDAQ: CPLP) announced an agreement to issue 9.1 million Class B Convertible Preferred Units ("Class B Preferred Units") to funds managed by Kayne Anderson Capital Advisors, L.P. and Oaktree Capital Management, L.P. as well as and the Partnership's Sponsor, Capital Maritime and Trading Corp. ("Capital Maritime").
The Partnership intends to use the net proceeds from the issuance of the Class B Preferred Units together with approximately $54 million from its existing credit facilities and part of its cash balances for the acquisition of two 5,023 TEU high specification container vessels for a total consideration of $130 million.
Both the M/V 'Hyundai Premium' and M/V 'Hyundai Paramount' are 2013 built at Hyundai Heavy Industries Co. Ltd. The vessels were originally ordered by Capital Maritime and built to the latest fuel efficient and eco-friendly design.
Both vessels have secured a 12 year time charter employment (+/- 60 days) to Hyundai Merchant Marine Co. Ltd. ("HMM") at a gross rate of $29,350 per day.
"We are very pleased to have concluded this important transaction for the Partnership, as it offers long term cash flow visibility to our shareholders, further diversifies our revenue stream with the addition of HMM to our charterers, and we believe, will further underpin our existing distribution level and allow for distribution growth ahead. In addition, we acquire two state of the art, eco type, wide beam, fuel efficient newbuilding container vessels built in one of the best shipyards in the world to very high specification," said Mr. Ioannis Lazaridis, Chief Executive and Chief Financial Officer of the Partnership's General Partner. "Importantly, we are very pleased by the continuous support of our existing shareholders to the Partnership."
Published : March 18, 2013 |
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发表于 2013-3-18 22:25
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