Capital Product Partners L.P. Announces Completion of $140 Million of Convertible Preferred Units and Amendments to Credit Facilities
ATHENS, GREECE - 05/23/12
Capital Product Partners L.P. (the "Partnership") (NASDAQ: CPLP), an international owner of modern double-hull tankers, announced today the completion of its issuance of $140 million of Class B Convertible Preferred Units ("Class B Units"). The Partnership also executed amendments to its three credit facilities and repaid debt of $149.6 million. The execution of the amendments provides for a deferral of scheduled amortization payments under each of the Partnership's credit facilities until March 31, 2016.
Neither the Class B Units nor the common units into which they are convertible have been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and they may not be offered or sold in the United States absent a registration statement or exemption from registration. This notice is issued pursuant to Rule 135c under the Securities Act of 1933 and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
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. The Partnership currently owns 25 vessels, including two VLCCs (Very Large Crude Carriers), four Suezmax crude oil tankers, 18 modern MR (Medium Range) tankers and one Capesize bulk carrier. All of its vessels are under period charters to BP Shipping Limited, Overseas Shipholding Group, Petrobras, Arrendadora Ocean Mexicana, S.A. de C.V., Cosco Bulk Carrier Co. Ltd and Capital Maritime & Trading Corp.
Capital Product Partners L.P. press release