Capital Product Partners L.P. announces pricing of 11,900,000 common units
Capital Product Partners L.P. announced that it has priced its public offering of 11,900,000 common units representing limited partnership interests at a public offering price of $9.25 per common unit. The Partnership has granted the underwriters a 30-day option to purchase an additional 1,785,000 common units to cover over-allotments, if any. The Partnership expects to use the net proceeds from the public offering towards acquiring three 5,023 TEU container vessels, namely the M/V CCNI Angol (ex Hyundai Prestige), the M/V Hyundai Privilege and the M/V Hyundai Platinum (the "Vessels"), from its sponsor Capital Maritime & Trading Corp. for an aggregate purchase price of $195,000,000. The offering is expected to close on August 9, 2013, said in the company's press release.
The Partnership's common units trade on the Nasdaq Global Market under the symbol "CPLP".
The joint book-running managers for this offering are UBS Investment Bank, BofA Merrill Lynch and Wells Fargo Securities. The senior co-managers are Barclays, Deutsche Bank Securities, Raymond James and RBC Capital Markets, and the co-manager is Evercore Partners.
When available, copies of the prospectus supplement and accompanying prospectus related to this offering may be obtained from UBS Investment Bank, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, or by calling UBS toll-free at: 888-827-7275, from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, or by emailing dg.prospectus_requests@baml.com, or from Wells Fargo Securities, Attention: Equity Syndicate Dept., 375 Park Avenue, New York, NY 10152 or by emailing cmclientsupport@wellsfargo.com or by calling (800) 326-5897.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This offering may be made only by means of a prospectus supplement and accompanying prospectus.
About Capital Product Partners L.P.
Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands master limited partnership, is an international diversified shipping company. The Partnership currently owns 27 vessels, including four Suezmax crude oil tankers, 18 modern MR (Medium Range) product tankers, four post panamax container vessels and one Capesize bulk carrier. All of its vessels are under period charters to large charterers such as BP Shipping Limited, subsidiaries of Overseas Shipholding Group Inc., Petrobras, A.P. Moller-Maersk A.S, HMM, Arrendadora Ocean Mexicana, S.A. de C.V., Subtec S.A. de C.V., Cosco Bulk Carrier Co. Ltd. and Capital Maritime & Trading Corp.