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Private Placement

Boskalis Placement Covers Dockwise Deal

Royal Boskalis Westminster N.V. has successfully placed USD 325 million US Private Placement notes with 24 institutional investors in the United States. The issue was heavily oversubscribed with a book close to USD 2 billion. The senior notes carry a 10 year maturity with an annual interest rate of 3.66%. The proceeds of the private placements, together with USD 190 million cash received from the recent disposal of Archirodon, will be used to fully repay the USD 525 million bridge facility, which purpose was to partly finance the acquisition of Dockwise. With these US private placements, in addition to the three and five year committed bank facilities and the existing 2010 US private placements, Boskalis will continue to have a solid financial structure. RBS and Rabobank acted as placing agents. Royal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors.


Dorian LPG Gets Finance for Scorpio Tankers Deal

US-based Dorian LPG has successfully placed 80,405,405 shares to Norwegian and international institutional investors to raise approximately $250 million intended to part pay for Dorian's recent acquistion of Scorpio Tankers' fleet of 11 Very Large Gas Carrier ("VLGC") newbuildings and an option to build two additional VLGCs. The Private Placement is expected to close on November 14, 2013, subject to satisfaction of certain customary closing conditions and the completion of the


Stolt Offshore New Shares Begin Trading in Oslo

Stolt Offshore S.A. announced that 62.5 million Common Shares that previously have been issued will begin trading on March 12, 2004 on the Oslo Bors. These represent the 45.5 million Common Shares issued in the recent private placement and the 17.0 million Common Shares issued in connection with the conversion of Class B Shares held by Stolt-Nielsen Transportation Group Ltd, a subsidiary of Stolt Nielsen S.A. The 45


Dryships Announces Pricing Of Private Offering by Ocean Rig

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ATHENS, GREECE – April 13, 2011 - DryShips Inc. (NASDAQ: DRYS) (the “Company” or “DryShips”), a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced today the pricing of $500 million aggregate principal amount of 9.5% Senior Unsecured Bonds Due 2016 (the “Bonds”) offered by its majority-owned subsidiary Ocean Rig UDW Inc


Safe Bulkers Close Series B Preferred Shares

Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today the closing of its previously announced public offering of 800,000 shares of its 8% Series B Cumulative Redeemable Perpetual Preferred Shares, par value $0.01 per share, liquidation preference $25.00 per share at a price of $25.00 per share. The company also announced the closing of its previously announced private placement of 800


Matson Closes $100 Million Debt Private Placement

Matson, Inc., a U.S. carrier in the Pacific, announced the issuance today of $100 million in 30-year final maturity senior unsecured notes pursuant to a previously announced private placement on November 6, 2013. The notes have a weighted average life of approximately 14.5 years and bear interest at a rate of 4.35%, payable semiannually. The proceeds from the private placement of notes will be used for general corporate purposes.


Hornbeck Offshore CEO to Ring NYSE Closing Bell

Hornbeck Offshore Services, Inc. Chairman, President and CEO Todd M. Hornbeck, will ring The Closing Bell at the New York Stock Exchange on Friday, September 30, 2005 at 4:00 p.m. Eastern time. This event marks the pricing of the company's recent public stock offering and private placement of 6.125% senior notes that will raise approximately $290 million in aggregate gross proceeds for the Company. These combined proceeds will fund, in part


Attica Gets OK For Shares Issue

Greek ferry operator Attica Enterprises received shareholder approval last Thursday for a one-for-10 bonus share issue and a one-for-10 rights issue at 3,200 drachmas a share. The company will raise a total of $219 million from the rights issue and a private placement of 13.35 million shares with new investors and staff. Proceeds will be used to finance the investment program of the company and its subsidiaries.


Dryships Private Offering of Shares, Ocean Rig UDW

DryShips Inc. (NASDAQ: DRYS) announced that its wholly-owned subsidiary Ocean Rig UDW Inc., intends to offer through a private placement, subject to market and other conditions, approximately $500m worth of shares of Ocean Rig’s common stock. The offering will be made to Norwegian professional investors and eligible counterparties as defined in the Norwegian Securities Trading Regulation 10-2 to 10-4, to non-United States persons in reliance on Regulation S under the Securities Act of


CSSC Plans $0.6B Private Placement

China CSSC Holdings (600150) plans to raise up to four billion yuan from a private placement of 60 million shares at not less than $0.6b per share, reports Shanghai Securities News, citing a company filing. The target shares will be offered to up to 10 investors, including China State Shipbuilding Corporation (CSSC), CSSC Holdings’ parent, Baosteel Group and China Shipping Group.   (Source: CapitalVue)


Ultrapetrol Completes 100% of Mortgage Note Exchange

Image courtesy of Ultrapetrol

Ultrapetrol announce the results of its offer to exchange all of its outstanding $25.0 million 8 7/8% First Preferred Ship Mortgage Notes due 2021 that were issued in a private placement on October 2, 2013 as follows: The company informs that the notes were issued for an equal principal amount of


GSL Prices First Priority Secured Notes

Global Ship Lease, Inc. (GSL) announced  that it has priced an offering of $420,000,000 aggregate principal amount of 10.000% first priority secured notes due 2019 at an issue price of 98.5% in a private placement. The notes will be fully and unconditionally guaranteed, jointly and severally


Box Ships announces Prices Public Offering

 Box Ships Inc.,ATHENS,  today announced that it has priced its public offering of 5,000,000 units consisting of its common shares and warrants at $2.05 per unit.  Each unit consists of one common share and a warrant to purchase 0.40 common shares.


Shippers Turn to Equity Markets as Sector Eyes Recovery

Photo courtesy OW Bunker

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector recovering from its worst downturn since the 1980s. Ship owners ordered large numbers of vessels between 2007 and 2009


Safe Bulkers' Stock Offering May Fund New-buildings

Bulk Carrier: Photo courtesy of Safe Bulkers

Greek dry-bulk ship owners Safe Bulkers, Inc. plans to offer 5,000,000 shares of its common stock to the public. The Company plans to use the net proceeds of the Public Offering and Private Placement for vessel acquisitions, capital expenditures and for other general corporate purposes


Dorian Completes Acquisition of Scorpio VLGC Fleet

Dorian LPG Ltd. announced that it has  concluded its agreement with Scorpio Tankers Inc. to acquire its Very Large Gas Carrier (VLGC) newbuilding contracts, associated deposits of $83.1 million, and a cash contribution of $1.9 million in exchange for 39


NAT's New Offshore Subsidiary to Seek NYSE Listing

Tankship photo courtesy of NAT

Nordic American Tankers Ltd. (NAT) inform that they have created a new offshore supply vessel company, Nordic American Offshore Ltd. that has completed a $250m private placement. Earlier this month the investor market was informed that NAT was coordinating the establishment of Nordic American


Nordic American Tankers Letter to Shareholders

Nordic American Tankers Limited (NAT) Chairman and CEO, Herbjorn Hansson, Issued a letter to shareholders addressing the yearend rally in the crude tanker market and strongly increased rates. Dear Shareholder, As we approach the end of the year


GSL Announces New First Priority Secured Notes Offering

Global Ship Lease, Inc. (GSL) announced  that it plans to issue an aggregate principal amount of up to $400,000,000 of first priority secured notes due 2021 in a private placement. The notes will be fully and unconditionally guaranteed, jointly and severally


Euronav to Raise $150M of Perpetual Convertible Preferred Equity

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The board of directors of Euronav NV announced that the company has raised $150 million (USD) via a private placement of a perpetual convertible preferred equity instrument. The instrument will be issued at par and will bear an interest of 6% during the first five years payable annually in


Teekay Offshore Issues $53.4 Million Equity Private Placement

Teekay Offshore GP LLC., the general partner of Teekay Offshore Partners L.P. announced  that it has agreed to issue 1.75 million common units in a private placement to an institutional investor for proceeds of approximately $53.4 million (excluding the partnership's general partner's


Laborde Diesel Generators Help Power Energy Giant

Photo: Laborde Products

Effective wastewater treatment and liquids processing is essential to energy production, pipeline and refining operations, both offshore and onshore. To help ensure efficient, reliable power for its fleet of equipment, the Water Treatment Services division of Greene's Energy Group recently chose


NAO Takes Delivery of Platform Supply Vessel

Nordic American Tankers (NAT) said that NAO took delivery of the last of the six recently built Platform Supply Vessels (PSVs) from the Ulstein Group of Norway. NAO is fully operational. NAT is the sponsor of NAO, owning 26% of the share capital in NAO. A subsidiary of NAT is


Crude Oil Carriers DHT Report Favourable Wind in Q4 2013

DHT Tankship: Photo courtesy of the owners

Oslo, Norway-based DHT Holdings, Inc. reports fourth quarter 2013 results and the acquisition of two VLCCs. Financial Highlights of the quarter EBITDA for the quarter of $18.9 million and net income for the quarter of $11.5 million ($0.48 per share) including $15


Stolt-Nielsen Reports Improved Fourth Quarter

Photo: Stolt Tankers

Stolt-Nielsen Limited has reported unaudited results for the fourth quarter ended November 30, 2013. Net profit attributable to SNL shareholders in the fourth quarter was $36.7 million, with revenue of $524.5 million, compared with $21.8 million, with revenue of $521


 
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