Container Ship Owners, Costamare, Plan NY Bourse Stock Offering

MarineLink.com
Monday, January 13, 2014

Greek shipowners, Costamare Inc., says it plans to offer its Series C Preferred Stock and intends to use the net proceeds for general corporate purposes, including making vessel acquisitions or investments, details as follows:

The offering is of Series C Cumulative Redeemable Perpetual Preferred Stock, par value $0.0001 per share, liquidation preference $25.00 per share. In connection with the offering, the Company intends to grant the underwriters a 30-day option to purchase additional shares of the Series C Preferred Stock. Following the offering, the Company intends to file an application to list the Series C Preferred Stock on the New York Stock Exchange.

Morgan Stanley & Co. LLC, UBS Securities LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers of the offering, which will be made under an effective shelf registration statement. Barclays Capital Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are acting as co-managers.

About Costamare Inc.
Costamare Inc. says it is one of the world’s leading owners and providers of containerships for charter. The Company has 39 years of history in the international shipping industry and a fleet of 67 containerships, with a total capacity in excess of 438,000 TEU, including 12 newbuild containerships on order. 

 

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