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Monaco - May 24, 2020
Costamare Inc. (the “Company”) (NYSE: CMRE) announced today that its wholly owned subsidiary, Costamare Participations Plc, has successfully priced its previously announced offering of €100 million of unsecured bonds (the “Bonds”) in Greece.
The Bonds will mature in 2026 and will have a coupon of 2.70%, payable semi-annually. The offering is subject to customary closing conditions, and settlement is expected to occur on May 25, 2021. The trading of the Bonds on the Athens Exchange should commence on May 26, 2021.The net proceeds of the offering are intended to be usedfor repayment of indebtedness, vessel acquisitions and working capital purposes.
Mr. Gregory Zikos, Chief Financial Officer of Costamare Inc., commented:
"We are pleased to announce the closing of the first shipping bond on the Athens Exchange. The successful bond issue further diversifies our Company’s sources of financing.The bond was issued at the low end of the yield range based on exceptionally high demand."
The Bonds have not been registered under the Securities Act or the securities laws of any U.S. state or other jurisdiction and may not be offered or sold in the United States absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Bonds, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. In addition, this announcement is not intended as and shall not constitute a public offer or advertisement of securities in Greece or an invitation to make offers to purchase any securities in any EEA Member State within the meaning of Art. 2(d) or 2(k) of the Prospectus Regulation respectively.
Costamare Inc. Announces Offering of Senior Unsecured Bonds on the Athens Exchange
Monaco - May 12, 2020
Costamare Inc. (the “Company”) (NYSE: CMRE) announced today that its wholly owned subsidiary, Costamare Participations Plc (the “Issuer”), plans tooffer in Greece up to €100 million of unsecured bonds (the “Bonds”) which will be admitted to trading in the category of fixed income securities of the Regulated Market of the AthensExchange. The net proceeds of the offering are intended to be used for repayment of indebtedness, vessel acquisitions and working capital purposes.
The Bonds to be offered have not been registered under the Securities Act or the securities laws of any U.S. state or other jurisdiction and may not be offered or sold in the UnitedStates absent registration or unless pursuant to an applicable exemption from the registration requirements of the Securities Act and any other applicable securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the Bonds, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer,solicitation or sale would be unlawful. In addition, this announcement is not intended as and shall not constitute a public offer or advertisement ofsecurities in Greece or an invitation tomake offers to purchase any securities in any EEA Member State within the meaning of Art. 2(d) or 2(k) of the Prospectus Regulation respectively.
About Costamare Inc.
Costamare Inc. is one of the world’s leading owners and providers of containerships for charter. The Company has 47 years of history in the international shipping industry and a fleetof 82 containerships, with a total capacity of approximately 582,837 TEU, including one vessel under construction, six secondhand vessels that we have agreed to acquire and threevessels that we have agreed to sell. Five of our containerships have been acquired pursuant to the Framework Deed with York Capital Management by vessel-owning joint ventureentities in which wehold a minority equity interest.
The Company’s common stock, Series B Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E PreferredStock trade on the New York Stock Exchange under the symbols “CMRE”, “CMRE PR B”, “CMRE PR C”,“CMRE PR D” and “CMRE PR E”, respectively.
Costamare Inc. press release
