Athens, Greece - Sep 7, 2017
On July 28, 2017, Capital Product Partners L.P. (NASDAQ: CPLP) announced that it had entered into a firm offer letter for a new senior secured term loan facility (the "New Facility") for an aggregate principal amount of up to $460.0 million with a syndicate of lenders led by HSH Nordbank AG ("HSH") and ING Bank N.V. ("ING") as mandated lead arrangers and bookrunners and BNP Paribas and National Bank of Greece S.A. as arrangers. Today, CPLP announced that it has formally entered into the loan agreement documenting the New Facility. CPLP expects to use the net proceeds of the New Facility, together with available cash, to refinance its indebtedness under its 2007, 2008, 2011 and 2013 credit facilities during the fourth quarter of 2017.
About Capital Product Partners L.P.
Capital Product Partners L.P. (NASDAQ: CPLP), a Marshall Islands master limited partnership, is an international owner of tanker, container and drybulk vessels. The Partnership currently owns 36 vessels, including twenty-one modern MR (Medium Range) product tankers, four Suezmax crude oil tankers, ten Neo Panamax container vessels and one Capesize bulk carrier. Its vessels trade predominantly under period charters to Cargill International S.A., CMA-CGM S.A., Cosco Bulk Carrier Co. Ltd., CSSA S.A. (Total S.A.), Flota Petrolera Ecuatoriana, Hyundai Merchant Marine Co. Ltd., International Seaways, Inc., Pacific International Lines (Pte) Ltd., Petróleo Brasileiro S.A., Repsol Trading S.A., and Capital Maritime & Trading Corp.
Capital Product Partners L.P. press release