Marine Link
Wednesday, September 28, 2016

Dorian LPG Gets Finance for Scorpio Tankers Deal

November 5, 2013

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 (SBNA)' 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 Transaction. Upon closing of the Private Placement, the Company will have 213,579,150 shares issued and outstanding.

The Company plans to use the proceeds from the Private Placement to part finance a series of VLGC newbuildings and for general corporate purposes.

Pareto Securities AS acted as Global Coordinator with Arctic Securities ASA, DNB Markets, and Fearnley Securities AS, as Joint Lead Managers.

About Dorian LPG Ltd. (LPG)
Dorian LPG is a pure-play LPG shipping company and a leading owner and operator of modern VLGCs. Dorian LPG currently has three modern VLGCs andone pressurized LPG vessel.

http://www.dorianlpg.com



Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News