Greece: CPLP to Acquire Three Container Vessels

Capital Product Partners L.P. yesterday announced that it plans to offer 11,900,000 common units representing limited partnership interests in a public offering. The Partnership expects to grant the underwriters a 30-day option to purchase an additional 1,785,000 common units to cover overallotments, if any.

The Partnership intends 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. (“Capital Maritime”) for an aggregate purchase price of $195,000,000. Each of the three container vessels was built in 2013 at Hyundai Heavy Industries. Co. Ltd. and each vessel is employed under a 12 year time charter employment (+/- 60 days) to Hyundai Merchant Marine Co. Ltd. (“HMM”) at a gross rate of $29,350 per day, which commenced shortly after the delivery during the first half of 2013.

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CPLP, August 6, 2013